Consequence Assessment Template - Excel

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Consequence Assessment Template - Excel Powered By Docstoc
					                                                                                  Risk Register [Name]
       Objectives at Risk                                                                    Who's Perspective                                Scope

                             Risk Description (what could possibly happen)                                     Likelihood                     Potential Risk Controls
        Risk                                   -Scenario                                       Consequences       (1/y)        Risk Level      (Controls, Studies for
                                                                             Existing Controls                                                                          Responsibility
         ID.                                -Consequences                                           ($)       (eg. 1 in 100   ($ each year)      Consideration or
                                         -Timing / Timeframes                                                  each year)                        implementation)

5e178b27-93de-4fba-bf65-bc1050a8a907.xls                                                                                                                                                 Page 1
                                                                                                                               How to Read the Risk Register

                                                                                                                                 Risk Register [Name]
Objectives at Risk                                                                                      Who's Perspective                                                                                                      Scope
                 Risk Description (what could possibly
                                                                                                                                                                                                                                    Possible Controls
                                happen)                                                                                                                 Likelihood
                                                                                                               Consequences                                                                         Risk                           (Controls or Studies,                         Responsibility
Risk ID.                       -Scenario                                   Existing Controls                                                               (1:y)*
                                                                                                                   ($)*                                                                            ($/y)*                      Recommendations or Ideas for                     / Accountability
                            -Consequences                                                                                                            (eg. 1:100 years)
                         -Timing / Timeframes
  Syste         The first line is one or two words in bold text         A brief description of the       The consequence of the scenario        The likely hood of the scenario is    The level of Risk is the product of       A brief description of potentially     Nominate a Responsible person for
  m to          to act as a quick visual Identifier. The identifier     controls or treatments which     is estimated in terms of dollars.      estimated in terms of events per      the "Consequences" and the                valuable control changes or options    this risk (the persons title rather than
  identify      may be the HAZARD ie - source of the risk or it         are currently in place to        The consequence value is the           year i.e.. 1 event per hundred        "Likelihood" of any risk - i.e.           which have been conceived. These       their name). The Responsible Person
  and           may be the RISK ie - what could happen or the           manage the risk.                 sum of all consequences including      years written "1:100". Because        Likelihood x Consequences. The            options for the most part are in the   is the person who will be responsible
  track         OUTCOME or IMPACT.                                                                       safety, assets, revenue, reputation    these consequence estimates are       unit for risk is then dollars per year    "idea" stage and require further       for managing this risk. The person
  risk                                                                  Subjective comments              environment, legal. For those          subject to significant estimation     (i.e.. 1/10y x $60 = $6/y) the same       evaluation to determine if they will   nominated should be in the best
                Next line can be the source of risk or more detail      regarding the adequacy of        impacts which can not be directly      errors most values are indicative     units that costs and revenue are          be valuable. This evaluation, if       position to manage this risk, with
                about the risk to quickly distinguish the risk from     controls should not be made.     represented in terms of dollars, a     only. This means that the values      measured in. This is no                   deemed necessary, is normally          appropriate authority to action items.
                other similar risks (in less than one line).                                             dollar figure is estimated to allow    are accurate to orders of             coincidence as risk is a statistical      conducted in a separate risk control
                                                                        Comments about compliance        comparison - i.e.. one death is        magnitude only - i.e.. closer to 10   cost. This figure may be thought          cost benefit analysis which may        /
                Next paragraph should be a description what             with certain codes, standards    worth $1M. Because these               than 100.                             of as the average or annualized           lead to the development of a risk
                could happen, including details of a specific           or other requirements should     consequence estimates are                                                    cost of risk (i.e.. on average over       treatment plan. Reference should       Optional: Nominate a Accountable
                scenario from causes to consequences. All areas         be made in this column.          subject to significant estimation                                            a large number of years the cost          be made in this column to any such     person for this risk (the persons title
                of Impact [Safety, Assets, Profit, Environmental,                                        errors most values are indicative                                            of the risk will average out to $6        evaluations or treatment plans.        rather than their name). The
                Legal, Image] should be considered and detailed.                                         only. This means that the values                                             per year).                                                                       Accountable person is the person who
                                                                                                         are accurate to orders of                                                                                                                                     will be responsible for ensuring that
                If there are other scenarios with different levels of                                    magnitudes only - i.e.. closer to 10                                         This value is only as accurate as                                                the risk is managed appropriately and
                consequence these can be detailed in the next                                            than 100.                                                                    the estimates used to calculate it -                                             will be the person who the responsible
                paragraphs. Diffent consequences will have                                                                                                                            i.e.. if the consequence or                                                      person will report too.
                different likelihood and these should be recorded.                                                                                                                    likelihood values are indicative, so
                The scenerio that is quantified in the                                                                                                                                will be the risk value.
                consequence, likelihood and risk columns should
                be the one with the largest risk.                                                                                                                                     This risk value is the accumulation
                                                                                                                                                                                      or sum of all possible scenarios.

  5e178b27-93de-4fba-bf65-bc1050a8a907.xls                                                                                                                                                                                                                                                         Page 2

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