Sample Risk Register Inherent Ratings



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Sample Risk Register





Inherent Ratings
(Pre-control)


Controls

Residual
Risk Rating


Further Action

#

Risk

Consequence

Likelihood

Inherent
Risk Rating


Prevention

Mitigation

Control Effectiveness




Treatment / Actions

Responsible

1































2































3































4































5































6































7































8
































Guide to Ratings


Dimension

Option 1

Option 2

Option 3

Option 4

Option 5

Likelihood

Rare

Unlikely

Possible

Likely

Almost Certain

Consequence

Insignificant

Minor

Moderate

Major

Severe

Inherent Risk Rating

Low

Moderate

High

Extreme

-

Control Effectiveness Rating

Ineffective

Improvement Required

Reasonable

Effective

-

Residual Risk Rating

Low

Moderate

High

Extreme

-

Sample Consequence Ratings







Consequence

Impact

Insignificant

Minor

Moderate

Major

Severe

Financial

Minor and recoverable financial or funding loss (>$10,000)

Minor loss of funding or revenue (>50,000)

Significant loss of funding or revenue

(>100,000)



Substantial loss of funding or revenue (>$200,000)

Extreme financial loss

Non-renewal of contractual funding



Reputation

Insignificant adverse press coverage/ community reaction

Minor adverse press coverage/ community reaction

Moderate adverse press coverage/ community reaction

Major adverse press coverage/ community reaction

Severe adverse press coverage/ community reaction

Operations

Minor and recoverable impact on a production

One production affected to a moderate degree

Significant impact on one production

Major impact on more than one production

Extreme impact on company program

Sponsorship

Decrease of small sponsorship amount

Loss of a smaller sponsor

Loss of multiple smaller sponsors

Loss of a major sponsor

Loss of multiple major sponsors

OH&S

No harm to staff or visitors that requires treatment

Staff member injured requiring first aid

Staff member is injured requiring medical treatment resulting in lost time

Permanent injury to staff member/visitor

Death of staff member/visitor

Sample Likelihood Ratings


Rare

Unlikely

Possible

Likely

Almost Certain

Possible but very unlikely that the situation resulting in the defined consequence will occur.

Could occur but not expected.

Could occur within the next 10 years. Would not be surprised if this occurred.

Could occur more than once in the next ten years. History of occurrence with the defined consequence level.

High likelihood of it happening several times in the next ten years. Typical of these operations.

Sample ‘Heat Map’ for Rating Inherent Risk (before application of controls)



Likelihood

Almost Certain

High

High

Extreme

Extreme

Extreme

Likely

Moderate

High

Extreme

Extreme

Extreme

Possible

Low

Moderate

High

Extreme

Extreme

Rare

Low

Low

Moderate

High

Extreme

Unlikely

Low

Low

Moderate

High

High




Insignificant

Minor

Moderate

Major

Severe

Consequence

Sample Control Effectiveness Ratings


Ineffective

Improvement Required

Reasonable

Effective

The control environment provides little or no assurance that this risk will not occur, as many weaknesses/inefficiencies exist.

Some control weaknesses/inefficiencies have been identified. Although these are not considered to present a serious risk exposure, improvements are required to provide a reasonable assurance that this risk will not occur

The control environment provides reasonable assurance that this risk will not occur, with room for small improvement in control.

The control environment effectively and efficiently provides very good assurance that this risk will not occur.

Sample ‘Heat Map’ for Rating Residual Risk (after application of controls)



Control Effectiveness

Ineffective

Moderate

High

Extreme

Extreme

Extreme

Improvement Required

Moderate

Moderate

High

Extreme

Extreme

Reasonable

Low

Low

Moderate

High

Extreme

Effective

Low

Low

Moderate

High

High




Insignificant

Minor

Moderate

Major

Severe

Consequence



Rating of Residual Risk

Further Action Required

Extreme

Risk requires documented actions plans

High

Risk requires senior management oversight

Moderate

Risk requires allocated responsibility

Low

Risk can be managed in the routine process



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