Extreme 81-100 Immediate Action Required (Executive management) Assign accountability High 61-80 Executive Management attention required Assign accountability Medium 41-60 Management by specific reviewing and monitoring of procedures (Managers) Assign accountability Manage by routine procedures, unlikely to need specific application of resources (managers and Low 0-40 Business as usual key staff) Risk Plan The risk plan includes a set of actions to be to avoid, transfer or mitigate each risk, based on the priority of the risk assigned. For each risk identified and in order of priority, list: Preventative actions reduce the likelihood of the risk occurring. – Contingent actions reduce the consequence should the risk eventuate. – Appendix 4 Operational Risk Management Plan Template – Example only not based on actual risks –
Extreme 81-100 Immediate Action Required (Executive management) Assign accountability High 61-80 Executive Management attention required Assign accountability Medium 41-60 Management by specific reviewing and monitoring of procedures (Managers) Assign accountability Low 0-40 Manage by routine procedures, unlikely to need specific application of resources (managers and key staff) Business as usual Risk Plan The risk plan includes a set of actions to be to avoid, transfer or mitigate each risk, based on the priority of the risk assigned. For each risk identified and in order of priority, list: Preventative actions – reduce the likelihood of the risk occurring. Contingent actions – reduce the consequence should the risk eventuate. Appendix 4 – Operational Risk Management Plan Template Example only – not based on actual risks
Risk%20Management%20Framework.docx