Risk Management Risk Consequences Risk Minor Moderate Major Catastrophic Category (1) (2) (3) (4) Scrutiny required Scrutiny required Intense public, Assembly inquiry by internal by external political and or Commission of Reputation committees or committees or media scrutiny. inquiry or internal audit to ACT Auditor E.g. front page & Image adverse national prevent General’s Office, headlines, TV, media. escalation. or inquest, etc. etc. 2.5% of Budget > 5% of Budget > 10% of Budget >25% of Budget Financial First aid and Extensive Minor injuries / ongoing medical Safety and injuries/ possible first aid treatment. Multiple Fatality multiple injuries. Injury required Probable lost Single Fatality time. Significant Major damage to Minor damage. Significant loss of damage to assets. assets. Loss of Operational Loss of operation assets. Loss of Loss of operation operations no more than 1 operations > 1 Loss between 1 day to between 1 week day. month. 1 week. and 1 month. Suspension of Prosecution, Minor breach of Formal warning activity and financial penalty, statue or Compliance from regulator. prosecution/ cessation of regulation. financial penalty. activity. > 10% of 2.5% of Duration > 5% of Duration >25% of Duration Schedule Duration Risk Likelihood Title Probability Historical Almost Certain >50% Is expected to in most circumstances Likely 25% Will probably occur in most circumstances –50% Possible 5% 25% Might occur at some time in the future – Unlikely <5% May only occur in exceptional circumstances
Risk Management Risk Consequences Risk Category Minor (1) Moderate (2) Major (3) Catastrophic (4) Reputation & Image Scrutiny required by internal committees or internal audit to prevent escalation. Scrutiny required by external committees or ACT Auditor General’s Office, or inquest, etc. Intense public, political and media scrutiny. E.g. front page headlines, TV, etc. Assembly inquiry or Commission of inquiry or adverse national media. Financial 2.5% of Budget > 5% of Budget > 10% of Budget >25% of Budget Safety and Injury Minor injuries / first aid required First aid and ongoing medical treatment. Probable lost time. Extensive injuries/ possible multiple injuries. Single Fatality Multiple Fatality Operational Loss Minor damage. Loss of operation no more than 1 day. Significant damage to assets. Loss of operation between 1 day to 1 week. Major damage to assets. Loss of operations between 1 week and 1 month. Significant loss of assets. Loss of operations > 1 month. Compliance Minor breach of statue or regulation. Formal warning from regulator. Suspension of activity and prosecution/ financial penalty. Prosecution, financial penalty, cessation of activity. Schedule 2.5% of Duration > 5% of Duration > 10% of Duration >25% of Duration Risk Likelihood Title Probability Historical Almost Certain >50% Is expected to in most circumstances Likely 25% –50% Will probably occur in most circumstances Possible 5% – 25% Might occur at some time in the future Unlikely <5% May only occur in exceptional circumstances
2013-04-18-risk-matrix.docx