Abstract: A system, method and article of manufacture for creating risk maps for risk assessment and management and, more particularly, for creating risk maps for graphically displaying different characteristics of risks. One embodiment provides a method of creating a risk map for graphically displaying characteristics of risks. The method includes determining N selected risks from a plurality of potential risks, where N is an integer; determining, for each of the N selected risks, a probability of occurrence, a relative severity of occurrence, and a risk evaluation factor; and displaying, for each of the N selected risks, the probability of occurrence, the relative severity of occurrence and the risk evaluation factor.