When working out how to answer the consequence, likelihood and risk score:
Ask the questions:
If something did happen what would the consequence be?
and then
Now that we’ve put these controls in place what is the likelihood of it happening?
Then look at the convergence to work out the risk score.
LIKELIHOOD DESCRIPTION | ||||||
LIKELIHOOD | This event may occur only in exceptional circumstances. | Not expected but the event may occur at some time. | The event could occur at some time. | The event will probably occur in most circumstances. | The event is expected to occur or has occurred and is continuing to impact | |
IMPACTS | RARE | UNLIKELY | POSSIBLE | LIKELY | ALMOST CERTAIN | |
Fatality or Permanent Total Disability Complete Destruction | CRITICAL | EXTREME | ||||
Significant or extensive injury or illness. Extensive damage. | MAJOR | HIGH | ||||
Serious Injury or Illness. Lost time > 10 days. Significant damage but limited area/items. | MODERATE | MEDIUM | ||||
Serious injury or illness lost time <10 days. Damage limited to smaller area or items | MINOR | LOW | ||||
Injury or illness requiring first aid but no lost time injury days. Minimal damage to area or items, easily fixed. | INSIGNIFICANT | |||||