RISK MATRIX

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