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wiki:risk_management [2018/11/01 16:48] stephen initial formatting |
wiki:risk_management [2018/11/01 17:08] (current) stephen |
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Identify the Potential impact of Risk | Identify the Potential impact of Risk | ||
- | Insignificant No injuries, low financial loss | ||
- | Minor Simple First aid treatment, medium financial loss. | ||
- | Moderate Significant First aid treatment, high financial loss. | ||
- | Major Extensive injuries, loss of production capability, major financial loss | ||
- | Catastrophic Death, huge financial loss. | ||
- | Assess the Likelihood that the Risk would cause an accident | + | **Insignificant No injuries, low financial loss** |
- | Almost certain The event is expected to occur in most circumstances. | + | |
- | Likely The event will probably occur in most circumstances | + | |
- | Moderate The event should occur at some time. | + | |
- | Unlikely The event could occur at some time. | + | |
- | Rare The event may occur only in exceptional circumstances . | + | |
- | Action required to eliminate the Risk | + | |Minor | Simple First aid treatment, medium financial loss.| |
- | High High Risk - act immediately to take steps to Fix the Problem. | + | |Moderate | Significant First aid treatment, high financial loss.| |
- | Significant Significant risk - act immediately to take steps to Fix the Problem | + | |Major | Extensive injuries, loss of production capability, major financial loss| |
- | Moderate Moderate risk - act as soon as practicable | + | |Catastrophic | Death, huge financial loss.| |
- | Low Low risk - manage by routine procedures and reassess within designated timeframe. | + | |
+ | **Assess the Likelihood that the Risk would cause an accident** | ||
+ | |||
+ | |Almost certain | The event is expected to occur in most circumstances| | ||
+ | |Likely | The event will probably occur in most circumstances| | ||
+ | |Moderate | The event should occur at some time| | ||
+ | |Unlikely | The event could occur at some time| | ||
+ | |Rare | The event may occur only in exceptional circumstances| | ||
+ | |||
+ | **Action required to eliminate the Risk** | ||
+ | |||
+ | |High | High Risk - act immediately to take steps to Fix the Problem| | ||
+ | |Significant |Significant risk - act immediately to take steps to Fix the Problem| | ||
+ | |Moderate | Moderate risk - act as soon as practicable| | ||
+ | |Low | Low risk - manage by routine procedures and reassess within designated timeframe| | ||
===== STEP 3 - Fix the Problem ===== | ===== STEP 3 - Fix the Problem ===== |