Winterling Crisis Matrix

The video tutorial explains the crisis matrix, a tool for analyzing risk based on two metrics: probability of occurrence and severity of impact. Risks are categorized as low, medium, or high based on these metrics. High impact risks require more attention, and increased probability adds weight to the issue. The matrix helps identify and analyze risks effectively.

What is the primary purpose of the Crisis Matrix?

• To design organizational structures

• To develop marketing strategies

• To analyze and examine risk

• To create financial forecasts

Which two metrics are used in the Crisis Matrix to assess risk?

• Growth and stability

• Cost and time

• Probability and severity

• Efficiency and effectiveness

How is risk generally categorized in terms of probability?

• Short, medium, or long

• Low, medium, or high

• Simple, complex, or advanced

• Minor, moderate, or severe

Why is it important to focus on risks with a higher degree of impact?

• They are more likely to occur

• They are less costly to manage

• They pose a greater threat to the organization

• They are easier to predict

What does an increased probability of occurrence indicate in risk analysis?

• The risk is irrelevant

• The risk is less significant

• The risk requires more attention

• The risk is already mitigated