Reading the Heat Map
A heat map is a graphical representation of data using colors to indicate different levels of values. In risk management, a heat map is often used to visually display and prioritize risks based on their likelihood and impact.
When reading a heat map, the colors and shading are the most important elements. Typically, colors ranging from green to yellow to red are used to indicate the level of risk. Green represents low risk, yellow represents moderate risk, and red represents a high risk. The darker the shade of the color, the higher the level of risk.
In addition to colors, the heat map may include labels or numbers to indicate the specific level of risk associated with each item. It is important to review each item on the heat map and understand the underlying risk and potential impact. This information can then be used to prioritize actions and develop mitigation strategies.