Risk Matrix
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Risk Assessment Matrix For use with the Risk Management guide This is one example of a number of tools that can assist with your risk assessment process.
What you need to do 1. Consider what can go wrong 2. Determine how bad the outcome would be - Consequences 3. Determine how likely it is to happen - Likelihood 4. Calculate the risk level
CONSEQUENCES LIKELIHOOD Almost certain Likely
Catastrophic 5
Major 4
Moderate 3
Minor 2
Insignificant 1
10
9
8
7
6
9
8
7
6
5
8
7
6
5
4
7
6
5
4
3
6
5
4
3
2
5 4
Possible 3 Unlikely 2 Rare 1 Risk Score
What should I do?
9-10 7-8
Extreme High
5-6
Moderate
2-4
Low
Immediate action required Action plan required, senior management attention needed Specific monitoring or procedures required, management responsibility must be specified Manage through routine procedures
CONSEQUENCES:
How severely could it hurt someone/cause damage?
Catastrophic Major Moderate Minor Insignificant
death or large number of serious injuries, environmental disaster, huge cost serious injury, extensive injuries, severe environmental damage, major cost medical treatment required, contained environmental impact, high cost first aid treatment required, some environmental and/or financial impact No injuries, low financial/environmental impact
LIKELIHOOD:
How likely is it to happen?
Almost Certain Likely Possible Unlikely Rare
expected to occur in most circumstances will probably occur in most circumstances might possibly occur at some time could occur at some time may occur only in exceptional circumstances
What you need to do 1. Consider what can go wrong 2. Determine how bad the outcome would be - Consequences 3. Determine how likely it is to happen - Likelihood 4. Calculate the risk level
CONSEQUENCES LIKELIHOOD Almost certain Likely
Catastrophic 5
Major 4
Moderate 3
Minor 2
Insignificant 1
10
9
8
7
6
9
8
7
6
5
8
7
6
5
4
7
6
5
4
3
6
5
4
3
2
5 4
Possible 3 Unlikely 2 Rare 1 Risk Score
What should I do?
9-10 7-8
Extreme High
5-6
Moderate
2-4
Low
Immediate action required Action plan required, senior management attention needed Specific monitoring or procedures required, management responsibility must be specified Manage through routine procedures
CONSEQUENCES:
How severely could it hurt someone/cause damage?
Catastrophic Major Moderate Minor Insignificant
death or large number of serious injuries, environmental disaster, huge cost serious injury, extensive injuries, severe environmental damage, major cost medical treatment required, contained environmental impact, high cost first aid treatment required, some environmental and/or financial impact No injuries, low financial/environmental impact
LIKELIHOOD:
How likely is it to happen?
Almost Certain Likely Possible Unlikely Rare
expected to occur in most circumstances will probably occur in most circumstances might possibly occur at some time could occur at some time may occur only in exceptional circumstances
