The answer is that a risk matrix/heat map has two factors namely, likelihood and Potential Impact on its x-axis and y-axis respectively.
What is a Risk map ?
A risk heat map is a tool used to present the results of a risk assessment process visually and in a meaningful way. Risk assessment is a critical step in risk management. It involves evaluating the likelihood and potential impact of identified risks.
Risk maps are a way of representing the resulting qualitative and quantitative evaluations of the probability of risk occurrence and the impact on the organisation in the event that a particular risk is experienced.
Organisations generally map risks on a heat map using a ‘residual risk’ basis that considers the extent to which risks are reduced by risk response strategies.
So, a risk matrix/heat map plots threats on a two-dimensional grid to assess qualitative risk. it has two factors as its x and y axes , Likelihood and Potential Impact respectively.
Please find the attached image.
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