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Chapter 2: Uncertainty, risk and opportu... > The probability-impact grid (PIG) – ...

The probability-impact grid (PIG) – a tool that needs scrapping

A very common tool in risk management practice for projects and other contexts is the ‘risk matrix’ or ‘probability-impact grid’ (PIG) or ‘probability-impact graph’. The matrix or grid graph comprises cells defined by categories of likelihood or probability, and severity or impact. Identified possible adverse events or ‘risks’ are assigned to a particular cell in the grid according to the estimated level of probability and impact of the possible event. Proponents and users of PIGs often refer to them as ‘probability-impact matrices’ (PIMs) or other variants, but we will use the PIGs terminology favoured by the growing band that dislike PIGs or find that PIGs better suits their sense of humour.


  

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