A Probability and Impact Matrix Aids a Project Team in Prioritizing

question 78

True/False

A probability and impact matrix aids a project team in prioritizing the risks that need more attention than others, based on either their probability of occurring or the size of the impact to the project or both.

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Definitions:

Normal Balance

The side (debit or credit) on which increases to the account are recorded, depending on the type of account.

Financial Statement(s)

Formal records of the financial activities and position of a business, person, or other entity, presented in a structured manner.

Normal Balance

The side of an account (debit or credit) where increases in the account are recorded.

Financial Statement(s)

Documents that provide an overview of a business's financial condition, including balance sheet, income statement, and cash flow statement.