Risk Assessment Matrix

Risk Assessment Tables

Risk Assessment Matrix Risk rating as a function of consequence and likelihood scores.

MEDIUM

HIGH

CRITICAL

CRITICAL

CRITICAL

Consequence

LOW

MEDIUM

HIGH

CRITICAL

CRITICAL

LOW

LOW

MEDIUM

HIGH

CRITICAL

VERY LOW VERY LOW 1

LOW

LOW

MEDIUM

HIGH

VERY LOW 2

LOW 3 Likelihood

LOW 4

MEDIUM 5

Consequence Criteria The descriptions below are indicative only and provide a guide to relative consequence. Rating Score Catastrophic 5 Major 4 Criteria Council or external agency instigates an inquiry or legal action. Significant damage to the Universitys reputation Widespread, ongoing, negative media coverage Legal action involving major criminal charges and/or civil suits with possible fines and costs exceeding $1 million Multiple deaths and injuries Severe environmental damage Long term cessation of core activities (months) Destruction or long-term unavailability of infrastructure, systems and resources directly impacting operations Financial loss not covered by insurance (more than $5 million) Widespread negative media coverage Legal action involving criminal charges and/or civil suits with possible fines and costs exceeding $5000,000 Single death and/or multiple injuries Short term cessation of core activities (weeks) Financial loss not covered by insurance ($2.5 - $5 million) Unfavorable media coverage Injuries requiring off campus medical treatment Significant disruption to core activities (days) Financial loss not covered by insurance ($500,000 - $2.5 million) Limited unfavorable media coverage Injuries requiring on campus medical treatment Short-term disruption to core activities (days) Long-term disruption to non-core activities (weeks) Financial loss not covered by insurance ($50,000 - $500,000) Unlikely to have an impact on the Universitys public image Minor injuries Minimal impact on operations Minimal financial loss (less than $50,000)

Moderate

Minor

Insignificant

Risk Assessment Matrix Likelihood Criteria Rating Almost Certain Probable Possible Unlikely Rare Score 5 4 3 2 1 Description High likelihood of risk event happening several times within the next year. A risk event is likely to occur more than once in the next 12 months. Would not surprise if risk event occurred, and will probably occur at some time in the coming 2 to 5 years. The risk event could occur at some time but is unlikely. Within the realms of possibility but extremely unlikely to occur. Occurs once in 10 years.

Actions Required
Time frames to ensure that risks are removed.

Risk level
Action required immediately:

Required action

Critical

The proposed task or process activity must not proceed. Steps must be taken to lower the risk level to as low as reasonably practicable using the hierarchy of risk controls. Action required today: The proposed activity can only proceed, provided that: the risk level has been reduced to as low as reasonably practicable using the hierarchy of risk controls; the risk controls must include those identified in legislation, Australian Standards, Codes of Practice etc. the risk assessment has been reviewed and approved by the Supervisor and a Safe Working Procedure or Safe Work Method has been prepared. The supervisor must review and document the effectiveness of the implemented risk controls.

High

Action required this week: The proposed task or process can proceed, provided that: the risk level has been reduced to as low as reasonably practicable using the hierarchy of risk controls; the risk assessment has been reviewed and approved by the Supervisor and (iii) a Safe Working Procedure or Safe Work Method has been prepared. Action required this month:

Medium

Low/Very Low

Managed by local documented routine procedures which must include application of the hierarchy of controls.

Risk Assessment Matrix

Steps to determine the Risk Rating Step 1 Consider the Consequences Step 2 Consider the Likelihood What are the consequences of this incident occurring? What is the likelihood of the consequence identified in step 1 happening? Consider what could reasonably have happened as well as what actually Consider this with the current controls in happened. place. Look at the descriptions and choose Look at the descriptions and choose the most suitable Likelihood. the most suitable Consequence. Step 3 Calculate the Risk

A. Take Step 1 rating and select the correct B. Take Step 2 Rating and select the correct line. C. The calculated risk score is where the two ratings cross
on the matrix below.

LIKELIHOOD
Consequence

Description
Multiple fatalities; irreversible effects; Loss $10m to $100m; Extensive Environmental damage. Fatality; Serious irreversible disabilities; Medium term Environmental damage; Loss $1m to $10m Moderate irreversible disability; Moderate environmental damage; Loss $100k to $1m Minor injuries & hospitalisations; Short term Environmental damage; Loss $10k to $100k. No medical treatment; No Environmental damage; Loss less than $10k.

Likelihood

Description
Expected to occur in most circumstances. Probably will occur in most circumstances. Might happen at some time. Could happen, but rarely. Has never occurred before.

Rare Catastrophic
MEDIUM

Unlikely

Possibly

Likely

Almost Certain
CRITICAL

Catastrophic

Almost Certain

HIGH

CRITICAL

CRITICAL

Major

Likely

CONSEQUENCE

Major
LOW MEDIUM HIGH CRITICAL CRITICAL

Moderate

Possible

Medium Minor

LOW

LOW

MEDIUM

HIGH

CRITICAL

Minor

Unlikely

VERY LOW

LOW

LOW

MEDIUM

HIGH

Insignificant

Rare

Insignificant VERY LOW

VERY LOW

LOW

LOW

MEDIUM