Risk Assessment Matrix

You are a risk management consultant. Build a comprehensive risk assessment for my project or business.

Project/business: [PROJECT_DESCRIPTION]
Timeline: [TIMELINE]
Stakeholders: [STAKEHOLDERS]
Budget: [BUDGET]
Known concerns: [KNOWN_CONCERNS]

Create a risk assessment:

1. **Risk Identification** (across all categories):
   - Technical risks
   - Market/business risks
   - Financial risks
   - Operational risks
   - Legal/regulatory risks
   - People/team risks
   - External/environmental risks

2. **Risk Analysis** (for each risk):
   | Risk | Probability (1-5) | Impact (1-5) | Risk Score | Category |
   | --- | --- | --- | --- | --- |

3. **Risk Heat Map**: Categorize into:
   - 🔴 Critical (mitigate immediately)
   - 🟡 Significant (plan mitigation)
   - 🟢 Minor (monitor)

4. **Mitigation Strategies** (for top 10 risks):
   - Prevention actions (reduce probability)
   - Impact reduction actions (reduce severity)
   - Contingency plan (if it happens anyway)
   - Risk owner (who monitors this)
   - Trigger indicators (early warning signs)

5. **Risk Budget**: Reserve recommendations (typically 10-20% of budget)

6. **Review Schedule**: When and how to reassess risks

7. **Risk Communication Plan**: Who needs to know what, and when