Likelihood Matrix

Define the likelihood levels used in risk assessments, including labels, probability ranges, and descriptions

Configure the 5 likelihood levels. Each level has an editable label, probability range, and description.

Level	Label	Probability Range	Description
1			The event may occur only in exceptional circumstances. Highly unlikely within the project timeframe.
2			The event could occur at some time but is not expected. Limited historical precedent.
3			The event might occur at some time. Some evidence or history of occurrence.
4			The event will probably occur in most circumstances. Strong evidence of potential occurrence.
5			The event is expected to occur in most circumstances. Very high confidence of occurrence.

Level 1

Label

Probability Range

Description

Level 2

Label

Probability Range

Description

Level 3

Label

Probability Range

Description

Level 4

Label

Probability Range

Description

Level 5

Label

Probability Range

Description