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Risk Rating

The Residual Risk Matrix

	5	. .	.	.	. .	. .
Risk Consequences	4	.	.	.	.	. .
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		1	2	3	4	5
		Risk Likelihood

Key:

		1 - 4	- Low	5 - 11	- Moderate
		12 - 16	- High	17 - 25	- Extreme

Risk Rating Descriptors

Rating	Description	Required Action
L	Low	Acceptable: Unlikely to require specific application of resources; Manage by routine procedures. Monitor and review.
M	Moderate	Acceptable: 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 relevant Executive member(s) &/or Vice-Chancellor.
E	Extreme	Not acceptable: 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 relevant Executive member(s), Vice-Chancellor and Council.