Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?

Question

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A look-up table is used in risk management to determine the priority of a risk based on its probability and impact, often using a RAG (Red, Amber, Green) rating system.

Mark Is the Project Manager of the BFL Project for His