Question

What two axes are typically used in a risk control map? Explain what the two parallel dashed lines in exhibit 5-16 signify.

Answer 1

A risk control map uses two axes to represent likelihood and impact of risks. The parallel dashed lines in exhibit 5-16 signify risk control boundaries or thresholds.

Step-by-step explanation:

A risk control map is a graphical representation that helps analyze and manage risks.

The two axes typically used in a risk control map are:

• The x-axis: This represents the likelihood or probability of a risk occurring. It shows the range from low to high probability.
• The y-axis: This represents the impact or severity of a risk if it were to occur. It shows the range from low to high impact.

The two parallel dashed lines in exhibit 5-16 signify the thresholds or boundaries for risk control. These lines separate the different risk levels or zones on the map, helping identify risks that require immediate attention and those that may be lower priority.