What is a heatmap of risks?

Heatmap of risks is a visual representation of project risks in the form of a color matrix, where the axes usually represent the likelihood of the risk occurring and its impact (severity of consequences).

Colors (from green to red) indicate the level of risk criticality: green — low, yellow — medium, red — high.

This tool helps quickly assess and prioritize risks, determine which ones need immediate attention, and plan measures to reduce them.