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Risk Management Audit Assurance 2010

Ranking

Risk Level

Consequence

Likelihood

(Cause of risks to be entered in italics)

Residual Level of
Risk
Additional Risk Treatments

Ranking

Current Risk Treatments

Risk Level

Consequences

Consequence

Risk

Likelihood

Risk Reference

Current Level of
Risk

Risk Owner
(Responsible Areas are in
italics)

Activity Risk Rating

Risk Management Audit Assurance 2010

0.00

Low

Risk Management Audit Assurance 2010

Time Line for

Completion of
Additional Risk
Treatments

Risk Management Audit Assurance 2010

Risk Management Audit Assurance 2010

Risk Management Audit Assurance 2010

Description
Theoretically possible but not expected to
occur during the life cycle of the activity or
the lifetime of the equipment
Possible that it may occur once during the
life cycle of the activity or the lifetime of the
equipment
This event may occur slightly more than
twice during the life cycle of the activity or
during the lifetime of the equipment
This event may occur frequently during the
life cycle of the activity or during the lifetime
of the equipment
Expected to occur routinely during the life
cycle of the activity or during the lifetime of
the equipment

Likelihood
Rare (<5% probability)
Possible (5-10% probability)
Occasional (10-25% probability)
Likely (25-50% probability)
Almost Certain (>50% probability)

Injuries
Financial Loss
Asset Loss
Interruption to
Services

No injuries
<$50K or 5% of
operational budget
Little or no impact on
assets
< 0.5 day

First aid treatment

Medical treatment

<$50K-$250K or 10% of <$250K-$3M or 25% of

operational budget
operational budget
Minor loss or damage to
Major damage to assets
assets
0.5 day to 1 day
1 day to <1 week

Unsubstantiated, low
Substantiated, low
Reputation and Image impact, low profile or no impact, low profile or low
news items
news items

Substantiated, public
embarrassment,
moderate impact,
moderate news profile

Consequences
Score

Minor
1

Disruptive
2

Serious
3

1 (Low)

2 (Low)

3 (Low)

2 (Low)

4 (Low)

6 (Moderate)

3 (Low)

6 (Moderate)

9 (Moderate)

4 (Low)

8 (Moderate)

12 (Substantial)

5 (Moderate)

10 (Substantial)

15 (High)

Death or extensive
Multiple deaths or severe
injuries
permanent disabilities
<$3M-$10M or 50% of
>$10M or >50% of
operational budget
operational budget
Significant loss of assets Complete loss of assets
1 week to 1 month

>1 month
Substantiated, public
Substantiated, public
embarrassment, very
embarrassment, high
high multiple impacts,
impact, high news
high widespread news
profile, third party actions
profile, third party actions
Critical
Catastrophic
4
5
4 (Low)

5 (Moderate)

8 (Moderate)

10 (Substantial)

12 (Substantial)

15 (High)

16 (High)

20 (Extreme)

20 (Extreme)

25 (Extreme)