Probability Impact Grid

A matrix used to evaluate risks by rating how likely they are to occur and how much they could affect project objectives. Each dimension receives a numeric score, and the two scores are multiplied to produce a severity value used to rank and prioritize risks.

Key Points

  • Displays risks on a grid with probability on one axis and impact on the other.
  • Uses numeric scales (for example, 1-5) to score probability and impact independently.
  • Multiplies the two scores to calculate a risk severity score for prioritization.
  • Supports setting thresholds to group risks as low, medium, or high for action.

Example

During sprint planning, the team scores three risks: vendor delay (probability 4, impact 5 = severity 20), test environment outage (probability 2, impact 4 = severity 8), and scope churn (probability 3, impact 3 = severity 9). The vendor delay, with the highest score, is prioritized for immediate response planning.

PMP Example Question

A project manager assigns separate numeric ratings for probability and impact to each identified risk and multiplies them to rank which risks to address first. Which tool is being used?

  1. Probability Impact Grid
  2. Risk register
  3. Monte Carlo simulation
  4. Cause-and-effect diagram

Correct Answer: A — grid that multiplies probability and impact to rank risks

Explanation: The Probability Impact Grid scores probability and impact independently and multiplies them to produce a severity rating used to prioritize risks.

AI for Project Managers — Build Plans Faster, Lead Better

Turn messy inputs into structured project plans in minutes. If you are a project manager tired of spending hours on documentation, this course shows you how to use AI to work faster while staying fully in control.

This is not a generic AI course. You will learn how to use AI as a practical co-pilot to build real project artifacts—charters, WBS, schedules, risk registers, and executive reports—using structured, reliable prompt frameworks.

You will also learn how to keep your project aligned across scope, schedule, cost, and risk, and how to interpret performance data like Earned Value Management to support better decisions and communication.

Everything is designed for immediate use. You get ready-to-use prompt templates and workflows you can apply right away in your projects. Watch the video to see how it works and start building your first AI-supported project plan.

Explore the Course


Launch your career!

HK School of Management provides world-class training in Project Management with AI and Agile Methodologies. Practical skills, tools, and guidance you can apply right away. Covered by Udemy's 30-day refund policy.

Learn More