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Risk Assessment Rating Matrix Guide

This document provides a risk assessment rating matrix to determine the current risk level for identified hazards based on the likelihood of an event occurring and its potential consequences. The matrix rates risk levels from low to extreme, with extreme risks requiring immediate assessment and a resolution plan within 1 month, and low risks being tolerable if managed with proper processes and procedures.

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75 views1 page

Risk Assessment Rating Matrix Guide

This document provides a risk assessment rating matrix to determine the current risk level for identified hazards based on the likelihood of an event occurring and its potential consequences. The matrix rates risk levels from low to extreme, with extreme risks requiring immediate assessment and a resolution plan within 1 month, and low risks being tolerable if managed with proper processes and procedures.

Uploaded by

Thảo Nguyễn
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RISK ASSESSMENT RATING MATRIX

Use this table to determine the current risk for each identified hazard.

LIKELIHOOD
Rare Unlikely Possible Likely Almost certain
The event will only The event is not The event may occur The event is likely to The event is almost
occur in exceptional likely to occur in a within a year occur within a year certain to occur
circumstances year within a year
Severe/Catastrophic
(Accidental death/ MEDIUM HIGH EXTREME EXTREME EXTREME
serious injury)

Major
MEDIUM MEDIUM HIGH EXTREME EXTREME
(serious injury)
CONSEQUENCE

Moderate
(Lost time due to LOW MEDIUM HIGH HIGH HIGH
workplace injury)
Minor
(Minor workplace injury – LOW LOW MEDIUM MEDIUM MEDIUM
no lost time)

Minimal
LOW LOW LOW LOW LOW
(no injury)

RISK LEVELS
Resolution at each level involves reducing the risk level to a lower level of risk
 Extreme – requires immediate assessment with management consideration. A detailed plan, regular monitoring and reporting is required with a
target resolution within 1 month timeframe
 High – requires immediate assessment with senior staff consideration, planning and reporting. Target resolution should ideally be within 3 months
 Medium – reviewing of existing controls and planning required. Resolution timeframe should be within 1 year
Low – the risk may be tolerable and controlled if managed with high quality process and procedures

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