MANAGING BEST PRACTICES: Setting risk response priorities
One purpose of a risk assessment is to establish priorities — what risks must we deal with now, and what risks should we address as time permits?
A risk assessment matrix is a tool that can be used to help quantify a risk assessment and establish priorities. Table I is an example of a risk assessment matrix specified by the Department of Defense’s Standard Practice for System Safety. See http://akss.dau.mil/docs/ 882d.pdf.