Minor
Insignificant
Almost
Certain
E
E
E
E
H
H
Likely
E
E
E
H
H
M
Possible
E
E
E
H
M
L
Unlikely
E
E
H
M
L
L
Rare
E
H
H
M
L
L
Risk Level
Description
Extreme (E)
Will require detailed r
esearch and management planning at an
executive/director level. Ongoing planning and monitoring will be required
with regular reviews. Substantial adjustment of controls to manage the
risk are expected, with costs possibly exceeding original forecasts.
H
igh (H)
Requires management attention, but management and planning can be left
to senior project or team leaders. Ongoing planning and monitoring with
regular reviews are likely, though adjustment of controls are likely to be
met from within existing resources
Medium (M)
Can be managed by existing specific monitoring and response procedures.
Management by employees is suitable with appropriate monitoring and
reviews.
Low (L)
Can be managed through routine procedures.
Risk Treatment Risk Treatment Alternatives - risk acceptance: accept risk (perhaps because of excessive cost of risk treatment)
- risk avoidance: do not proceed with the activity that causes the risk (loss of convenience)
- risk transfer: buy insurance; outsource
- reduce consequence: modify the uses of an asset to reduce risk impact (e.g., offsite backup)
- reduce likelihood: implement suitable controls
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