risk_rating

Definition: A systematic use of available information to determine how often specified events may occur and the magnitude of their consequences

UNSW currently uses the qualitative risk analysis matrix from AS/NZS 4360:1999 Appendix E.

Table E1 Qualitative measures of consequence or impact

Level	Descriptor	Example detail description
1	Insignificant	No injuries, low financial loss
2	Minor	First aid treatment, on-site release immediately contained, medium financial loss
3	Moderate	Medical treatment required, on-site release contained with outside assistance, high financial loss
4	Major	Extensive injuries, loss of production capability, off-site release with no detrimental effects, major financial loss
5	Catastrophic	Death, toxic release off-site with detrimental effect, huge financial loss

Table E2 Qualitative measures of likelihood

Level	Descriptor	Description
A	Almost certain	Is expected to occur in most circumstances
B	Likely	Will probably occur in most circumstances
C	Possible	Might occur at some time
D	Unlikely	Could occur at some time
E	Rare	May occur only in exceptional circumstances

Table E3 Qualitative risk analysis matrix – level of risk

Legend

E: extreme risk; immediate action required

H: high risk; senior management attention needed

M: moderate risk; management responsibility must be specified

L: low risk; manage by routine procedures

Likelihood