UNIVERSITY RISK MATRIX
RISK RATING - MANAGEMENT ACTION REQUIRED
Extreme risk = immediate attention & response needed; requires a risk
Score Description of likelihood
assessment & management plan prepared by relevant senior managers for
A Vice-Chancellor; risk oversight by Council or nominated Standing Committee
Highly likely to happen, possibly frequently
Almost Certain or Management Committee
B
Will probably happen, but not a persistent issue High risk = risk to be given appropriate attention & demonstrably managed;
Likely reported to Vice-Chancellor or other senior Executives / Management
Committees as necessary
C
May happen occasionally
Possible
Medium risk = assess the risk; determine whether current controls are
D adequate or if further action or treatment is needed; monitor & review
Not expected to happen, but is a possibility
Unlikely locally, e.g. through regular business practices or local area meetings
E
Very unlikely this will ever happen Low risk = manage by routine procedures; report to local managers; monitor
Rare
& review locally as necessary
RISK MATRIX
CONSEQUENCE 1 2 3 4 5
LIKELIHOOD Insignificant Minor Moderate Major Extreme
A - Almost certain (frequent) M M H E E
B - Likely (probable) L M H H E
C - Possible (occasional) L M M H H
D - Unlikely (uncommon) L L M M H
E - Rare (remote) L L L L M
Adopted by University Risk Management Committee August 2012
UNIVERSITY RISK MATRIX
Generic impact Area of impact - description of consequence
Score
description
Education & Research Human Service delivery Brand & reputation Finance Compliance
Event or Huge loss / reduction in student Serious injury or death Cessation of major critical Long term damage to Huge financial loss Serious breach of
5 circumstance with enrolments / retention Loss of significant number of business systems or reputation or G08 status Significant budget over- contract or legislation
Extreme potentially Loss of a Faculty key staff impacting on skills, Education / Research Sustained negative run with no capacity to Significant prosecution &
disastrous impact Serious reduction in research knowledge & expertise programs for an media attention; adjust within existing fines likely
on business activity / output Staff industrial action intolerable period and / or Brand / image affected budget / resources Potential for litigation
or significant Serious problems reaching a Student unrest / protest / at a critical time in the nationally and / or May attract adverse including class actions
material adverse number of student, teaching or violence University calendar internationally findings from external Future funding /
impact on a key research targets regulators or auditors approvals / registration /
area Irreparable impact on licensing in jeopardy
relationship with partners /
collaborators
Critical event or Significant loss / reduction in Serious injury Cessation of major critical Sustained damage to Major financial loss Major breach of
4 circumstance that student enrolment / retention Dangerous near miss business systems or brand / image or Requires significant contract, Act, regulations
Major can be endured Loss of a key School Loss of some key staff Education / Research reputation nationally or adjustment to approved or consent conditions
with proper Major impact on research resulting in skills, knowledge & programs for an locally / funded projects / Expected to attract
management activity over a sustained period expertise deficits unacceptable period and / Adverse national or programs regulatory attention
Major problems meeting Threat of industrial action or at a critical time in the local media coverage Investigation,
teaching or research targets Threat of student protest / University calendar prosecution and / or
Serious long term damage to activity major fine possible
partnership / collaboration
Significant event Significant loss / reduction of Staff injury, lost time or Major service delivery Significant but short Significant financial loss Significant breach of
3 or circumstance number of students in a course penalty notice due to unsafe targets cannot be met term damage to Impact may be reduced contract, Act, regulation
Moderate that can be Loss of a key academic course act, plant or equipment Loss / interruption / reputation by reallocating or consent conditions
managed under Significant impact on research Short term loss of skills, compromise of critical Student / stakeholder resources Potential for regulatory
normal activity over a sustained period knowledge, expertise business systems or and / or community action
circumstances Significant problem meeting Severe staff morale or increase Education / Research concern
teaching or research targets in workforce absentee rate program for a protracted Sustained / prominent
Significant but short term Student dissatisfaction period of time local media coverage
damage to partnership
Event with Moderate reduction in student Health & safety requirements Local service or Education Some short term Some financial loss Minor non compliances
2 consequences enrolments / retention compromised / Research program negative media Requires monitoring & or breaches of contract,
Minor that can be Minor impact on research Lost time or potential for delivery problems coverage possible corrective Act, regulations, consent
readily absorbed activity public liability claim Loss / interruption / Concern raised by action within existing conditions
but requires Temporary problems meeting Some loss of staff members compromise of critical students / stakeholders resources May result in
management some teaching / research targets with tolerable loss / deficit in business systems or infringement notice
effort to minimise skills Education / Research
the impact Dialogue required with program for tolerable
industrial groups or student period but at an
body inconvenient time
Some loss but not Minor reduction in student Incident with or without minor Negligible impact on Minor damage to brand, Unlikely to impact on Unlikely to result in
1 material; existing enrolments / retention injury delivery of service image or reputation budget or funded adverse regulatory
Insignificant controls and Negligible impact on research Negligible skills or knowledge activities response or action
procedures activity or achievement of loss
should cope with teaching / research targets Dialogue with industrial
event or groups / students may be
circumstance required
