Risk Likelihood and Consequence Descriptors

Risk Likelihood Descriptors

Rating Description Likelihood of Occurrence
1 Rare Highly unlikely, but it may occur in exceptional circumstances. It could happen, but probably never will.
2 Unlikely Not expected, but there's a slight possibility it may occur at some time.
3 Possible The event might occur at some time as there is a history of casual occurrence at the University &/or similar institutions.
4 Likely There is a strong possibility the event will occur as there is a history of frequent occurrence at the University &/or similar institutions.
5 Almost Certain Very likely. The event is expected to occur in most circumstances as there is a history of regular occurrence at the University &/or similar institutions.

Risk Consequence Descriptors


Rating

Description

Financial Impact
Clients & Staff
Health & Safety

Business Interruption

Reputation & Image

Corporate Objectives
1 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

2 Minor $300,000 to $2M; not covered by insurance Minor injury; Medical treatment & some days lost Inconvenient; Critical systems unavailable for several hours Adverse local media coverage only Minor impact
3 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
4 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
5 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