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Risk Assessment and Opportunity Assessment Matrix Table

This document provides guidance on using a risk and opportunity assessment matrix to evaluate risks and opportunities for Mendip District Council. The matrix assigns likelihood and impact scores to risks and positive impact scores to opportunities. Risks and opportunities are plotted on the matrix and those above the "line of tolerance" should be referred for further review. The matrix is color coded to indicate low, medium, and high priority risks and opportunities.

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Win Ashar
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2K views1 page

Risk Assessment and Opportunity Assessment Matrix Table

This document provides guidance on using a risk and opportunity assessment matrix to evaluate risks and opportunities for Mendip District Council. The matrix assigns likelihood and impact scores to risks and positive impact scores to opportunities. Risks and opportunities are plotted on the matrix and those above the "line of tolerance" should be referred for further review. The matrix is color coded to indicate low, medium, and high priority risks and opportunities.

Uploaded by

Win Ashar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Risk and Opportunity Assessment
  • Impact Definitions

Mendip District Council Risk and Opportunity Management Strategy

Version 1 March 2015

Very 5 10 15 20 25 Very 25 20 15 10 5
Likely Likely
5 5

Likely 4 8 12 16 20 Likely 20 16 12 8 4
4 4

Feasible 3 6 9 12 15 Feasible 15 12 9 6 3

LIKELIHOOD (A)
LIKELIHOOD (A)

3 3

Slight 2 4 6 8 10 Slight 10 8 6 4 2
2 2

Very 1 2 3 4 5 Very 5 4 3 2 1
unlikely unlikely
1 1

Insignificant Minor Significant Major Critical Exceptional Major Significant Minor Insignificant
1 2 3 4 5 5 4 3 2 1

IMPACT (B) POSITIVE IMPACT (B)

Using the Risk and Opportunity Assessment Matrix

When assessing a risk or opportunity for the first time you should assume there are no management actions in place. The second assessment is completed with those actions already in place and
with any additional actions needed to reduce the risk further/realise the opportunity.

The assessor should assign values for the identified ‘likelihood of occurrence (A)’ and the ‘impact (B)’. By multiplying ‘A’ and ‘B’ together you get the rating score, which gives an indication of how
important the risk/opportunity is. The thick black line is the ‘line of tolerance’. Those risks that are plotted above the line (score 10-25) are ’out of tolerance and should be referred to CRMG for
further consideration.

Green=Low risk, Amber 9=Medium risk, Amber 10-12 Medium risk (above line of tolerance), Red=High risk
Red= High priority opportunity, Amber 10-12= Medium priority opportunity, Amber 10-12=Medium priority opportunity, Green=Low priority opportunity

RISKS OPPORTUNITIES
Likelihood of Occurrence (A) Severity of Impact (B) Likelihood of Occurrence (A) Positive Impact (B)
1-Very unlikely (hasn’t occurred before) 10-Insignificant (have no effect) 1- Very unlikely (hasn’t happened before) 1-Insiginificant (no effect available)
2- Slight (rarely occurs) 2-Minor (little effect) 2- Slight (rarely occurs) 2-Minor (little effect available)
3- Feasible (possible, but not common) 3-Significant (may pose a problem) 3-Feasible (possible, but not common) 3-Significant (moderate improvement available)
4-Likely (has before, will again) 4-Major (will pose a problem 4-Likely (has before, will again) 4- Major(major improvement available)
5-Very likely (occurs frequently) 5-Critical (immediate action required 5-Very likely (occurs frequently) 5- Exceptional (exceptional improvement
available)

Mendip District Council Risk and Opportunity Management Strategy Version 1 March 2015 4

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