What two factors determine the risk level in Risk Assessment Matrix?

1. Likelihood: This refers to the probability of a threat or hazard occurring. It can be rated as low, medium, or high based on historical data, industry standards, and expert judgment.

2. Impact: This refers to the potential consequences or severity of a threat or hazard if it occurs. It can be rated as low, medium, or high based on the potential financial, human, or environmental impact.