Risk Rating
The Residual Risk Matrix
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Risk Consequences |
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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. |