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Risk Matrix

The risk assessment matrix categorizes risks across 5 levels of consequence (Catastrophic, Major, Severe, Minor, Slight) and 5 levels of likelihood (Almost Certain, Likely, Possible, Unlikely, Rare). It considers the frequency of an event's occurrence and the impact it would have across factors such as personnel safety, financial loss, environmental damage, and reputation. The levels are defined by metrics including the area affected, duration of impact, and associated costs or injuries.

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Eddie Tai
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301 views

Risk Matrix

The risk assessment matrix categorizes risks across 5 levels of consequence (Catastrophic, Major, Severe, Minor, Slight) and 5 levels of likelihood (Almost Certain, Likely, Possible, Unlikely, Rare). It considers the frequency of an event's occurrence and the impact it would have across factors such as personnel safety, financial loss, environmental damage, and reputation. The levels are defined by metrics including the area affected, duration of impact, and associated costs or injuries.

Uploaded by

Eddie Tai
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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RISK ASSESSMENT MATRIX FREQUENCY

A B C D E
CONSEQUENCE
Rare Unlikely Possible Likely Almost certain

The event may occur The event will probably The event is expected to
The event could occur The event may occur at
Personnel Asset / Business Loss Environmental Impact Reputation only in exceptional occur in most occur in most
at some time some time
circumstances circumstances circumstances

Extensive Damage Major international impact,


persistent national concern.
Prosecution with material and/or
Massive Effect; Large scale (10-
Multiple Fatalities (or Permanent international reputational
Catastrophic
Total Disabilities)
100mile2), Long term impact
impact, Long terms “brand”
5 M M H H H
(decades)
impact. Major ventures/asset
> USD100M-USD1000M operations severely restricted or
curtailed.

Major Damage Major national impact, medium


S term national concern.
Major Effect; Medium Scale (1- Prosecution with major financial
Single Fatality (or Permanent
E Major
Total Disabilities)
10mile2), Medium term impact and/or national reputational 4 M M M H H
(years) impact, minor venture or minor
V > USD10M- USD100M asset operations restricted or
curtailed.
E

Local Damage Considerable impact, national


I bad mention. Prosecution with
Major Injury/Illness, Permanent Local Effect; Medium Scale (1-10
substantial financial and/or local
T Severe Partial Disability or Lost Time mile2), Medium term impact
reputational impact. Short term
3 L M M M H
Injury (> 4 days) (months)
regional concern. Close scrutiny
Y of asset level operations/future.
> USD1M-USD10M

Minor impact, short term local


Minor Damage
Minor Injury/Illness, Restricted concern. Prosecution with minor
Duties or Lost Time Injury (< 4 Minor effect; Localized Scale financial and/or short term
Minor
days) (<1mile2), Medium term impact reputational impact. Some
2 L L M M M
(Medical Treatment Cases) impact on asset level non-
> USD100K - USD1M production activities.

Slight Damage Slight effect; Localized Scale Slight impact, local mention
Slight Injury/Illness, First Aid or
Slight
Medical Treatment Case
(immediate area), Temporary only, quickly forgotten, freedom 1 L L L M M
impact (days) to operate unaffected
<USD100K

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