Lumiform
Features Solutions Resources Templates Enterprise Pricing
Select a language
Englishen
Deutschde
Françaisfr
Españoles
Português (BR)pt-BR
en
Contact salesLog in
Sign up
Back
Englishen
Deutschde
Françaisfr
Españoles
Português (BR)pt-BR
Features Solutions Resources Templates Enterprise Pricing
Free demo
Log in
en
Book a personal demoView video demoContact sales
Explore
Resource hubCentral repository for all Lumiform resourcesCustomer storiesReal-world successes and experiences with Lumiform.
Learn
Template collectionsComprehensive collections of best practice templates.Topic guidesComprehensive safety, quality, and excellence insights.LexiconDefinitions key to quality, safety, and compliance.
Support
Developer's guideTechnical documentation for developers.Help centerAssistance with onboarding and platform mastery.
Featured reads
Explore our collection of 38 free preventive maintenance checklists

Template collection

Explore our collection of 38 free preventive maintenance checklists

Start reading
Your guide to performing and documenting efficient child care observation

Topic guide

Your guide to performing and documenting efficient child care observation

Start reading
Lumiform as customer journey mapping tool in gastronomy

Success story

Lumiform as customer journey mapping tool in gastronomy

Start reading
Book a personal demoView video demoContact sales
By industry
Food and hospitalityManufacturingConstructionRetailTransport and logisticsFacility managementView all industries
By business needs
Health and safetyQualityOperational excellenceRisk management and complianceView all business needs
By use case
Safety management softwareEnergy audit appForklift inspection appBuilding management softwareVehicle inspection appQMS appKaizen method appProperty inspection appRestaurant inspection appElevator management appProject management softwareFire inspection app
View all app uses
Book a personal demoView video demoContact sales
Overview
Template libraryDiscover over 12,000 free, ready-made and expert proofed templates.
Use cases
CleaningMaintenanceRisk assessmentSupply chainIncident management
Business needs
Health and safety managementQuality managementOperational excellenceRisk management and compliance
Industries
Food and hospitalityManufacturingRetailTransport and logisticsConstructionFacility management
Book a personal demoView video demoContact sales
Overview
Product overviewAll features
Capabilities
Digitize
Form builderMobile AppActions
Automate
Workflow automationApprovalsIntegrations
Transparency and accountability
ReportsAnalytics
Orchestrate
Administration
Book a personal demoView video demoContact sales
Templates
5×5 risk matrix template

5×5 risk matrix template

This template gives you a practical way to assess risks and decide how to act on them, whether you’re assessing operations, safety, compliance, or finance.

Use this template
or download pdf
5×5 risk matrix template

This template gives you a practical way to assess risks and decide how to act on them, whether you’re assessing operations, safety, compliance, or finance.

Use this template
or download pdf

About the 5×5 risk matrix template

A 5×5 risk matrix template is a practical tool for standardising how your team identifies, evaluates, and addresses business risks. It’s especially helpful for high-compliance environments like construction, manufacturing, or logistics. You’ll be able to evaluate risks more quickly and respond effectively, with your entire team aligned on the plan.

How to use the 5×5 risk matrix template

A 5×5 risk matrix gives you a logical way to rate risks based on how likely they are to occur and how severe the impact would be. Here’s how to use the template effectively:

  1. Customize the template to match your operations. Before assigning it, adjust the fields so they reflect your actual risk environment. Use Lumiform’s app to edit categories, likelihood levels, and impact definitions so they match your company’s internal standards or regulatory frameworks.
  2. Describe the risk in specific terms. When filling in a new entry, don’t be vague. Note exactly what could happen, why it’s a risk, and under what circumstances. This helps avoid guesswork later and makes follow-up actions much more precise.
  3. Rate likelihood and impact separately. This template uses a 5-point scale for each, going from very low to very high. Treat them as independent variables, not a gut-feeling combo. A likely but low-impact risk is handled differently than a rare but catastrophic one.
  4. Select a risk response strategy. Once the total risk level is clear, choose whether to accept, avoid, transfer, or mitigate it. Be consistent with your company’s policy on risk thresholds and responsibilities.
  5. Assign and track treatment actions. Enter who’s responsible for follow-up and set a clear deadline. Use Lumiform to track progress and trigger alerts if deadlines slip so nothing gets missed.

Best practices for using a 5×5 risk matrix effectively

The value of a 5 x 5 risk matrix lies in how clearly it visualizes risk: by breaking it down into likelihood versus impact. To get the most out of this tool, you need to treat it as part of a dynamic process.

Use clear, real-world examples when defining risks. Vague entries like “safety issue” don’t help anyone. Be specific—describe the scenario, the trigger, and the potential outcome. This gives your team a shared language for future discussions and actions.

Always calibrate your ratings too. What’s “high impact” for one department might be “moderate” for another. Align your scale across teams before rolling out the template, especially if you’re working in a complex or multi-site operation.

Finally, treat the matrix as a discussion starter, not the final answer. Risks change over time. Use review meetings or site walk-throughs to revisit entries, spot outdated scores, and update action steps. Regular updates keep the tool relevant and help your risk management process stay proactive.

Streamline how you assess and manage risks

Access the template through Lumiform and start assigning risk levels with more clarity and consistency. Whether you’re evaluating compliance threats, operational disruptions, or supplier delays, this tool gives you a structured format to document, assess, and prioritize what matters most. It makes your assessments systematic, with actionable risk management.

Related categories

  • Risk management and compliance templates
  • General templates
  • Risk assessment templates
Preview of the template
entity_item!!!
Page 1
Risk Identification
Describe the risk in detail
Categorize the risk type
Identify the risk owner
Risk Analysis
Estimate the likelihood of the risk occurring
Assess the potential impact if the risk materializes
Risk Evaluation
Determine the overall risk rating
Prioritize the risk for further action
Risk Treatment
Describe the planned risk response actions
Assign risk treatment accountability
Establish target completion date
Risk Monitoring
Identify key risk indicators to monitor
Frequency of risk review
Comments or additional notes

More templates like this

Business risk assessment template
Business risk assessment template
Use this template to uncover possible risks and develop effective mitigation strategies. Customize it to fit your industry-specific needs and streamline your risk management process.
Risk assessment templates
Compliance risk assessment template
Compliance risk assessment template
Use this template to keep your compliance strategy on track and manage potential risks. Tailor it to your organization's needs, with sections for regulations, risk prioritization, and corrective actions.
Risk assessment templates
Compliance Risk Register
Compliance Risk Register
Helps organizations manage risks related to regulatory compliance
Risk assessment templates
IT audit risk assessment template
IT audit risk assessment template
Identify and address IT risks using this structured template. From assessing infrastructure to tackling vulnerabilities, it gives you the tools to audit confidently.
Risk assessment templates
Risk assessment template
Risk assessment template
Use our risk assessment template to spot potential hazards, assess their impact, and put effective safety measures in place. Ideal for keeping your workplace secure.
Risk assessment templates
Project risk assessment template
Project risk assessment template
This template offers a helpful guide to show all the areas of risk which could impact a project. Tailor it to your needs with customizable fields, role assignments, and conditional logic.
Risk assessment templates

Related resources

Access a complete set of resources aimed at maximizing safety, quality, and operational excellence, including detailed guides, related templates, and real-world use cases.

Topic guides

Read in-depth guides covering key topics related to this article.

Effective risk assessment: Key steps and best practicesDynamic risk assessment: Your guide to proactive management (with real world case studies)IT risk assessment: Steps and best practices
See all topic guides

Template collections

See comprehensive collections of best practice templates related to this topic.

3 essential free risk reduction plan templates3 free essential risk communication plan templates3 free ISO 31000 risk assessment templates
See all template collections

Use cases

Check out how the Lumiform software can be utilized for related use cases.

Dynamic risk assessment appIT risk assessment softwareProject risk management softwareRisk analysis software
See all use cases

Other resources

Explore all the additional resources we offer to assist you in mastering this topic.

5 steps of a fire risk assessment5 types of project risksWhat is FMEA?How to develop a risk register

Frequently asked questions

How do I decide what counts as high impact versus moderate?

This really depends on your industry and what’s at stake. A “moderate” impact for a retail store (e.g. minor inventory loss) could be a “high” impact for a healthcare facility. Define each level with concrete examples that reflect your own operations, and align those across your team so everyone scores risks the same way.

Can I use a 5 x 5 matrix for team discussions and reviews?

Absolutely, since it’s an effective tool that supports decision-making in meetings. Use it to walk stakeholders through risk scenarios and justify your ratings. You can also revisit past matrices to spot patterns or gaps in mitigation planning. Think of it as both a snapshot and a conversation starter.

What are common mistakes when using a 5 x 5 matrix?

A big one is rating all risks as “high,” which can dilute the value of the matrix. Another is skipping the context: just checking off boxes without explaining why a risk is rated a certain way. Always include enough detail to back up each score so it’s clear to others reviewing the matrix later.


This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.
Lumiform logo
Platform
HomeSign upProductAll featuresPricingEnterpriseTrust and securityCustomer success offeringsDownload the app
Solutions
IndustriesFood and hospitalityManufacturingConstructionRetailTransport and logisticsFacility management
Business needsHealth and safetyQualityOperational excellenceRisk management and compliance
Uses cases
Learn
Template collectionsTopic guidesLexiconHelp centerJournalInfographicsVideos
Resources
Lumiform templatesby industryby use caseby business needAll categories
Customer storiesDeveloper APIResource hubIntegrations
Company
AboutJobsLegalBook a demoContact sales
© 2025 LumiformTerms and conditionsPrivacyData processingSitemap
App StoreGoogle play