Risk matrix is a matrix that is used during risk assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories. This is a simple mechanism to increase visibility of risks and assist management decision making. Risk matrix is presented for use in identifying and assessing project risks quickly and cost effectively. It assists project managers with few resources to perform project risk analysis. Risk Matrix (RM) contains a broad set of risks that are categorized and ranked according to their potential impact and probability of occurrence.