The Risk Matrix is a visual tool that defines the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase the visibility of risks and assist management decision making. It is located within an incident's event summary page on the right-hand side. The level of risk is graded from 1-25 automatically based on your event submission. Answers to the following questions in the below screenshot calculates the risk matrix score.