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    Current Level of Risk Residual Level of Risk Risk Owner

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    tandin tshewang
    The document appears to be a risk management audit and assurance report containing various tables and descriptions related to risk assessment. It includes a table ranking risks based on their level determined by considering the consequences should the risk occur and the likelihood of occurrence. Consequence levels described range from minor to catastrophic and likelihood from rare to almost certain. The table is used to determine risk levels from low to extreme by cross referencing consequence and likelihood scores.

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    Current Level of Risk Residual Level of Risk Risk Owner

    Uploaded by

    tandin tshewang
    46 views9 pages
    The document appears to be a risk management audit and assurance report containing various tables and descriptions related to risk assessment. It includes a table ranking risks based on their level determined by considering the consequences should the risk occur and the likelihood of occurrence. Consequence levels described range from minor to catastrophic and likelihood from rare to almost certain. The table is used to determine risk levels from low to extreme by cross referencing consequence and likelihood scores.

    Original Description:

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    Original Title

    Risky Calculator

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    The document appears to be a risk management audit and assurance report containing various tables and descriptions related to risk assessment. It includes a table ranking risks based on their level determined by considering the consequences should the risk occur and the likelihood of occurrence. Consequence levels described range from minor to catastrophic and likelihood from rare to almost certain. The table is used to determine risk levels from low to extreme by cross referencing consequence and likelihood scores.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    46 views9 pages

    Current Level of Risk Residual Level of Risk Risk Owner

    Uploaded by

    tandin tshewang
    The document appears to be a risk management audit and assurance report containing various tables and descriptions related to risk assessment. It includes a table ranking risks based on their level determined by considering the consequences should the risk occur and the likelihood of occurrence. Consequence levels described range from minor to catastrophic and likelihood from rare to almost certain. The table is used to determine risk levels from low to extreme by cross referencing consequence and likelihood scores.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    Risk Management Audit Assurance 2010

    Ranking

    Risk Level

    Consequence

    Likelihood

    (Cause of risks to be entered in italics)

    Residual Level of
    Risk
    Additional Risk Treatments

    Ranking

    Current Risk Treatments

    Risk Level

    Consequences

    Consequence

    Risk

    Likelihood

    Risk Reference

    Current Level of
    Risk

    Risk Owner
    (Responsible Areas are in
    italics)

    Activity Risk Rating

    Risk Management Audit Assurance 2010

    0.00

    Low

    Risk Management Audit Assurance 2010

    Time Line for


    Completion of
    Additional Risk
    Treatments

    Risk Management Audit Assurance 2010

    Risk Management Audit Assurance 2010

    Risk Management Audit Assurance 2010

    Description
    Theoretically possible but not expected to
    occur during the life cycle of the activity or
    the lifetime of the equipment
    Possible that it may occur once during the
    life cycle of the activity or the lifetime of the
    equipment
    This event may occur slightly more than
    twice during the life cycle of the activity or
    during the lifetime of the equipment
    This event may occur frequently during the
    life cycle of the activity or during the lifetime
    of the equipment
    Expected to occur routinely during the life
    cycle of the activity or during the lifetime of
    the equipment

    Likelihood
    Rare (<5% probability)
    Possible (5-10% probability)
    Occasional (10-25% probability)
    Likely (25-50% probability)
    Almost Certain (>50% probability)

    Injuries
    Financial Loss
    Asset Loss
    Interruption to
    Services

    No injuries
    <$50K or 5% of
    operational budget
    Little or no impact on
    assets
    < 0.5 day

    First aid treatment

    Medical treatment

    <$50K-$250K or 10% of <$250K-$3M or 25% of


    operational budget
    operational budget
    Minor loss or damage to
    Major damage to assets
    assets
    0.5 day to 1 day
    1 day to <1 week

    Unsubstantiated, low
    Substantiated, low
    Reputation and Image impact, low profile or no impact, low profile or low
    news items
    news items

    Substantiated, public
    embarrassment,
    moderate impact,
    moderate news profile

    Consequences
    Score

    Minor
    1

    Disruptive
    2

    Serious
    3

    1 (Low)

    2 (Low)

    3 (Low)

    2 (Low)

    4 (Low)

    6 (Moderate)

    3 (Low)

    6 (Moderate)

    9 (Moderate)

    4 (Low)

    8 (Moderate)

    12 (Substantial)

    5 (Moderate)

    10 (Substantial)

    15 (High)

    Death or extensive
    Multiple deaths or severe
    injuries
    permanent disabilities
    <$3M-$10M or 50% of
    >$10M or >50% of
    operational budget
    operational budget
    Significant loss of assets Complete loss of assets
    1 week to 1 month

    >1 month
    Substantiated, public
    Substantiated, public
    embarrassment, very
    embarrassment, high
    high multiple impacts,
    impact, high news
    high widespread news
    profile, third party actions
    profile, third party actions
    Critical
    Catastrophic
    4
    5
    4 (Low)

    5 (Moderate)

    8 (Moderate)

    10 (Substantial)

    12 (Substantial)

    15 (High)

    16 (High)

    20 (Extreme)

    20 (Extreme)

    25 (Extreme)

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