Plot the same five risks, twice
Below are five board-level risks. You'll place each one on two different matrices: first the traditional likelihood-and-impact view, then a view that adds how fast each risk could bite and how it sits against risk appetite and tolerance. Read all five now; you won't be able to change how they're worded once you start plotting.
Matrix 1 of 2: the Adapted Traditional Risk Matrix
Place each risk where it sits on impact and likelihood. You've already read all five; classify them as you see them.
Matrix 2 of 2: Risk Matrix with Velocity and Risk Appetite & Tolerance
Same five risks. This time, place each by risk rating and how fast it could bite, then say whether it sits within the group's appetite, outside appetite but within tolerance, or beyond both.
What changed between the two matrices
Same five risks, same person judging them, two different lenses. Here's what the second lens added.
Matrix 1: Adapted Traditional Risk Matrix
Matrix 2: Velocity and Risk Appetite & Tolerance
Neither matrix is the correct one. Each is built to catch something the other one can miss.