Risk Likelihood and Consequence Descriptors

Risk Likelihood Descriptors

Rating Description Likelihood of Occurrence
1RareHighly unlikely, but it may occur in exceptional circumstances. It could happen, but probably never will.
2UnlikelyNot expected, but there's a slight possibility it may occur at some time.
3PossibleThe event might occur at some time as there is a history of casual occurrence at the University &/or similar institutions.
4LikelyThere is a strong possibility the event will occur as there is a history of frequent occurrence at the University &/or similar institutions.
5Almost CertainVery likely. The event is expected to occur in most circumstances as there is a history of regular occurrence at the University &/or similar institutions.

Risk Consequence Descriptors


Rating

Description

Financial Impact
Clients & Staff
Health & Safety

Business Interruption

Reputation & Image

Corporate Objectives
1 Insignificant Minimal financial loss; Less than $300,000 No or only minor personal injury; First Aid needed but no days lost Negligible; Critical systems unavailable for less than one hour Negligible impact Resolved in day-to-day management

2 Minor $300,000 to $2M; not covered by insurance Minor injury; Medical treatment & some days lost Inconvenient; Critical systems unavailable for several hours Adverse local media coverage only Minor impact
3 Moderate $2M to $5M; not covered by insurance Injury; Possible hospitalisation & numerous days lost Client dissatisfaction; Critical systems unavailable for less than 1 day Adverse capital city media coverage Significant impact
4 Major $5M to $10M; not covered by insurance Single death &/or long-term illness or multiple serious injuries Critical systems unavailable for 1 day or a series of prolonged outages Adverse and extended national media coverage Major impact
5 Catastrophic Above $10M; not covered by insurance Fatality(ies) or permanent disability or ill-health Critical systems unavailable for more than a day (at a crucial time) Demand for government inquiry Disastrous impact

Updated: 19 February 2013