FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT

(Risk rated in the absence of any controls. Serves to

Objective
INITIALofRISK
the risk assessment.
RATING
RISK IDENTIFICATION illustrate the severity of the risk, before controls, and (Risk rated based on effectiveness of current controls at the time
criticality of existing controls - of particular interest to of the initial risk assessment)

C L C
# OBJECTIVE RISK EVENT RISK CAUSE IMPACT/ CONSEQUENCE SUM RISK RATING EXISTING MITIGATIONS SUM
(1-5) (1-5) (1-5)

What are the triggers, sources or

What is it that you are working

How severe?

How severe?
This prompt circumstances that could act

How likely?

How likely?
to avoid or reduce the likelihood
row can be What planning alone or together to increase the If this Risk Event did occur, how would it impact
or impact of occurring? Risks What are you doing now to reduce the
hidden to objective does this likelihood of the Risk Event objectives? What are the longer-term or cumulative
are future events that could likelihood or impact of the event?
provide more event affect. occurring? There are usually consequences?
interfere with achievement of
page space. multiple causes leading to a Risk
objectives.
Event.

- Legacy system is incompatible

with data input requirements. - Unmet client service quality performance
1.3 Timely service
Invoice delivery to clients is - Data entry practices - Increased A/R - Manual data checks
Sample delivery to 5 4 20 EXTREME 3 4 12
slow and inaccurate. inconsistent - Increased risk of loss - Training manual
citizens.
- Manual data checks - Increased cost of recovery

GPP 0 UNRATED 0
Project
0 UNRATED 0
Control
1 Master Plan 0 UNRATED 0
2 Site Preparation 0 UNRATED 0
Estimated gas
reserve ( both
3 0 UNRATED 0
associated and
free)

Gas flow rate and

4 0 UNRATED 0
its composition

Market demand for

5 0 UNRATED 0
both local & export

Geographic
locations and
6 methods of 0 UNRATED 0
shipping of
finished products

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FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT

C L C
# OBJECTIVE RISK EVENT RISK CAUSE IMPACT/ CONSEQUENCE SUM RISK RATING EXISTING MITIGATIONS SUM
(1-5) (1-5) (1-5)

risks imposed in
implementing the
project and
7 0 UNRATED 0
evaluation of its
economic
feasibility
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0
0 UNRATED 0

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 FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT
assessment.
ATING
urrent controls at the time EVALUATION MITIGATIONS MANAGEMENT
ssment)

ADEQUACY OF EXISTING DEPENDENCIES/ INTER-

RISK RATING ACTION ADDITIONAL MITIGATIONS DELIVERABLE REQUIRED RESOURCES TASK OWNER DUE DATE PROGRESS %
MITIGATIONS RELATIONSHIPS

What form will this Does the event or

Non-existent, Inadequate, Adequate,
Robust, Excessive
Will you treat, mitigation take e.g. a mitigation rely on another
What else are you going to do to better What is needed to develop and Who will take the lead When is the deliverable
monitor, transfer or project plan, a report, team or organization?
manage the risk? implement the mitigation? on this mitigation? to be ready?
avoid the risk? Treasury Board Does it impact another
submission, other? group?

- re System
re System replacement
replacement strategy re System replacement strategy:
strategy:
Confer with IT Director and budget re Systems
Long term: - End of fiscal
- Revised training shop to confirm process and criteria replacement: Tom
- System replacement 25% - Initial planning
manual and web for business case.
re Training manual: complete. Implementation
HIGH Inadequate Treat counterpart re Training manual: System shared with MFAS.
Short term: - February 14th expected once additional
Re Training manual: Assign lead Sarah
- Update training manual staff sourced.
- Staffing solution for
- Commit more staff time. re Staffing review and
short term Re Staff assignment: Review workload re Staff review: Tom
recommendation:
breakdown and skills set.
- February 7th

UNRATED
UNRATED
UNRATED
UNRATED

UNRATED

UNRATED

UNRATED

UNRATED

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FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT

ADEQUACY OF EXISTING DEPENDENCIES/ INTER-

RISK RATING ACTION ADDITIONAL MITIGATIONS DELIVERABLE REQUIRED RESOURCES TASK OWNER DUE DATE PROGRESS %
MITIGATIONS RELATIONSHIPS

UNRATED

UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED
UNRATED

04/06/2022 Province of British Columbia 4

FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT

RESIDUAL RISK RATING CURRENT RISK RATING (Maximum level of risk executive is willing to
TRACKING (Risk rating expected / predicted once all (Current level of risk in light of mitigations accept. This should be provided by executive
mitigations Additional Mitigations are in place.) implemented at this report period.) after having been briefed on the risk, existing

L C L C L C L C
COMMENTS/ ISSUES FURTHER ACTION COMPLETION DATE SUM SUM SUM SUM
(1-5) (1-5) (1-5) (1-5) (1-5) (1-5) (1-5) (1-5)

Further progress is
dependant upon staffing 2 4 8.00 MEDIUM 3 4 12.00 HIGH 2 4 8.00 MEDIUM
approval

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED

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FOR DISCUSSION PURPOSES Risk Management Branch Risk Register Template version December 17, 2012 DRAFT

L C L C L C L C
COMMENTS/ ISSUES FURTHER ACTION COMPLETION DATE SUM SUM SUM SUM
(1-5) (1-5) (1-5) (1-5) (1-5) (1-5) (1-5) (1-5)

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED

0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED
0 UNRATED 0 UNRATED 0 UNRATED

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 LIKELIHOOD AND CONSEQUENCE DESCRIPTORS FOR RISK ASSESSMENTS

Likelihood Rating Criteria Probability

Almost certain 5 It is expected to happen. Will certainly happen this fiscal 80% to 100% or once a year or more
year or during the three year period of the Service Plan. frequently

Likely 4 We expect it to happen. It would be surprising if this did 61% to 79% or once every 3 yrs
not happen.
Possible 3 Just as likely to happen as not. We don't expect it to 40% to 60% or once every 5 yrs
happen, but there is a chance.
Unlikely 2 Not anticipated. We won't worry about it happening. 11% to 39% or once every 15 years

Almost certain not to happen 1 It would be surprising if this happened. There would 0 to 10% or once every 25 yrs
have to be a combination of unlikely events for it to
happen.

Consequence Rating Criteria / Examples

- Major problem from which there is no recovery.

Catastrophic 5 - Significant damage to ministry credibility or integrity.
- Complete loss of ability to deliver a critical program.

- Event that requires a major realignment of how

service is delivered.
Major 4 - Significant event which has a long recovery period.
- Failure to deliver a major political commitment.

- Recovery from the event requires cooperation across

Moderate 3 departments.
- May generate media attention.
- Can be dealt with at a department level but requires
Executive notification.
Minor 2
- Delay in funding or change in funding criteria.
- Stakeholder or client would take note.

- Can be dealt with internally at the branch level.

- No escalation of the issue required.
Insignificant 1 - No media attention.
- No or manageable stakeholder or client interest.

Risk Rating Matrix

5 LOW MED HIGH EXT EXT
LxC
4 LOW MED HIGH HIGH EXT Score 0 - 5 = Low
3 LOW MED MED HIGH HIGH Score 6 - 10 = Medium
2 LOW LOW MED MED MED Score 12 - 16 = High
1 LOW LOW LOW LOW LOW Score 20 - 25 = Extreme
LIKELIHOOD 1 2 3 4 5
CONSEQUENCE
 CONTEXT TEMPLATE

ESTABLISH CONTEXT
Purpose: establish scope, criteria, and deliverable for a particular risk assessment

1. State the subject of the risk analysis (e.g., strategic plan; business case; project agreement) and its scope with respect to
organisations involved, intended audience and time frame.

Text text text.

2. State goals and objectives of the program or plan in question.

Text text text.

3. State the mission, vision, operating principles and any other value criteria.

Text text text.

4. Identify stakeholders; determine their influence on the process; methods of consultation and communciation, as
appropriate.

Text text text.

5. Set out assumptions and constraints (deadlines, time-frames, environmental factors, executive or political directives).

Text text text.

Prepared by Risk Management Branch 04/06/2022 Page 8

RISK MANAGEMENT PROCESS: OVERVIEW

1. The CONTEXT defines the scope and objectives of the

risk management exercise. See tab 3 for details.

2. IDENTIFY risks by asking ,"What could occur that would

have an impact on our objectives?" Risks have three key
elements: Event, causes, impacts.

3. Risks ANALYSIS involves ranking the likelihood and

consequence using a 1-5 scale See tab 2 for guidance.

4. In order to EVALUATE risks the group reviews the

effectiveness and appropriateness of currents controls and
determines what action to take, if any.

5. Risk TREATMENT is the activity (s) you are going to

implement to better manage your exposures. Your
mitigations will reduce the likelihood and/or consequence
of the risk event occurring.

Prepared by Risk Management Branch 04/06/2022 Page 9