|The potential for problems to occur and lead to assessed consequences|
|A||Almost certain||Very high, may occur at
least several times per year
|Probability over 0.8||A similar outcome has
arisen several times
per year in the same location,
operation or activity
|B||Likely||High, may arise about once
|Probability 0.5–0.8||A similar outcome has
arisen several times per
year in this organization
|C||Possible||Possible, may arise at least
once in a 1–10-year period
|Probability 0.1–0.5||A similar outcome has
arisen at some time
previously in this
|D||Unlikely||Not impossible, likely
to occur during the next
10 to 40 years
|Probability 0.02–0.1||A similar outcome has
arisen at some time
previously in a similar
|E||Rare||Very low, very unlikely
during the next 40 years
|Probability less than 0,02||A similar outcome has
arisen in the world-wide
industry, but not in this
|Business Interruption||Reputation& Image||Corporate& Objective|
|A||Catastrophic||Above $10M; not covered by insurance||Fatality(ies) or permanent disability or ill-health||Critical systems unavailable for more than a day (at a crucial time)||Demand for government inquiry||Disastrous impact|
|B||Major||$5M to $10M; not covered by insurance||Single death &/or long-term illness or multiple serious injuries||Critical systems unavailable for 1 day or a series of prolonged outages||Adverse and extended national media coverage||Major impact|
|C||Moderate||$2M to $5M; not covered by insurance||Injury; Possible hospitalisation & numerous days lost||Client dissatisfaction; Critical systems unavailable for less than 1 day||Adverse capital city media coverage||Significant impact|
|D||Minor||$300,000 to $2M; not covered by insuranc||Minor injury; Medical treatment & some days lost||Inconvenient; Critical systems unavailable for several hours||Adverse local media coverage only||Minor impact|
|E||Insignificant||Minimal financial loss; Less than $300,000||No or only minor personal injury; First Aid needed but no days lost||Negligible; Critical systems unavailable for less than one hour||Negligible impact||Resolved in day-to-day management|
RISK PRIORITY RATING
RISK RATING DESCRIPTOR
Unlikely to require specific application of resources; Manage by routine procedures.
Monitor and review
Unlikely to cause much damage and/or threaten the efficiency and effectiveness of the program/activity.
Treatment plans to be developed and implemented by operational managers.
Manage by specific monitoring or response procedures.
|H||High||Generally not acceptable:
Likely to cause some damage, disruption or breach of controls.
Senior management attention needed and management responsibility specified; Treatment plans to be developed and reported to Deans, Exec Director/PVC &/or Vice-Chancellor.
Likely to threaten the survival or continued effective functioning of the program or the organisation, either financially or politically.
Immediate action required; Must be managed by senior management with a detailed treatment plan reported to Deans, Exec Director/PVC, Vice-Chancellor and Council