Risk Matrix Risk Rating Major Catastrophic Minor Moderate Insignificant Consequences/ Serious or Death or large Aid Medical Likelihood No injuries* extensive number of treatment* treatment* injuries* serious injuries* Almost Certain Low Medium High High Extreme Likely Low Medium Medium High High Possible Low Low Medium Medium High Unlikely Low Low Low Medium Medium Rare Low Low Low Low Medium Likelihood Rating The number of within a specified period in which a risk may occur either as a consequence of business operations or through failure of operating systems, policies or procedures. Rating Description Occurrence Probability Almost Certain Expected to in most circumstances Multiple/12 months > 80% Likely Strong possibility of occurrence Within 12 months 61% 80% – Possible May occur occasionally Within 5 years 31% 60% – Unlikely Not expected to occur but may happen Within 10 years 5% 30% – Rare May only occur in exceptional >10 years < 5% circumstances Prioritising Risks Table of Management Action – Risk What should I do? Extreme Immediate action required High Action plan required, senior management attention needed Medium Specific monitoring or procedures required, management responsibility must be specified Low Manage through routine procedures. Unlikely to need specific application of resources.
Risk Matrix Risk Rating Consequences/ Likelihood Insignificant No injuries* Minor Aid treatment* Moderate Medical treatment* Major Serious or extensive injuries* Catastrophic Death or large number of serious injuries* Almost Certain Low Medium High High Extreme Likely Low Medium Medium High High Possible Low Low Medium Medium High Unlikely Low Low Low Medium Medium Rare Low Low Low Low Medium Likelihood Rating The number of within a specified period in which a risk may occur either as a consequence of business operations or through failure of operating systems, policies or procedures. Rating Description Occurrence Probability Almost Certain Expected to in most circumstances Multiple/12 months > 80% Likely Strong possibility of occurrence Within 12 months 61% – 80% Possible May occur occasionally Within 5 years 31% – 60% Unlikely Not expected to occur but may happen Within 10 years 5% – 30% Rare May only occur in exceptional circumstances >10 years < 5% Prioritising Risks – Table of Management Action Risk What should I do? Extreme Immediate action required High Action plan required, senior management attention needed Medium Specific monitoring or procedures required, management responsibility must be specified Low Manage through routine procedures. Unlikely to need specific application of resources.