Designing a Risk Matrix Report
The risk matrix report is a report confined to risk items, i.e. cost items whose probability has been defined as less than 100%. It consists of a risk matrix surrounded by sidebars identifying individual risks. Each sidebar is connected to the matrix by an arrow to show its location on the matrix. An impact table is normally shown below the impact axis describing the various impact levels, and user-definable header text can be shown above the matrix.
In order to design a risk matrix report you will need to consider some or all of the following:
a) the basic design and layout of the report
b) the data fields to be shown in the sidebars and their formatting
c) the information to be shown above and below the matrix (impact table and text)
d) the risk items to be included in the report
e) headers and footers on the printed report
A risk matrix report can show impact in terms of a particular objective, such as cost, or schedule or safety, for example, or it can show overall impact combining all objectives.
The sidebars can be arranged for maximum clarity, or to show risks in risk severity order.
The report can be shown in terms of your standard matrix, or a compressed matrix can be used.
Information to identify risks is normally included in the sidebar fields, such as cost item numbers and names. However, additional data can be included if required. Conditional formatting can be applied.
An impact table is normally shown underneath the matrix, converting the simple impact scale shown on the matrix itself to a more informative scale. General explanatory text can be shown above the matrix.
Every risk item in the datafile can be included in the report, or only a defined subset of them. Although there is no upper limit to the number of risks that can be included in a risk matrix report, reports displaying 100 risks or more are difficult to read.