What risk assessment matrix refers to catastophic?

In risk assessment, a catastrophic risk is typically represented on a matrix as a high-severity event that could lead to significant damage, loss of life, or severe operational disruption. This level of risk usually falls into the top tier of the matrix, often categorized as "Catastrophic" or "Critical." In such matrices, the likelihood of occurrence is also evaluated, helping organizations prioritize risks that pose the most severe consequences. Effective risk management strategies are crucial to mitigate these catastrophic risks.