Rev No. 00 Dt. 01.07.

20
PSL CORROSION CONTROL SERVICES LTD
Issue No. 01 Dt. 01.07.20

RISK ASSESMENT
QMS - MGT - 01
(RISK ASSESMENT, CONTIGENCY PLANNING & OPPORTUNITIES)

Legal Requirements (LR)

Risk Significance (RS) =

Responsible

RS = (I+L+LR) x F
Likelyhood (L)

Frequency (F)

opportunities
Recommended

(I+L+LR) xF
Impact (I)
Sr. No.

Actions /
Potential effect of Potential causes of Current Process controls (Control to
Function / Area Potential Failure mode failure failure detect or prevent failure) Contingency
Planning or Target completion
Mitigation date

Note: 1. Actions are to be taken if Frequency rating is greater than 15

2. Actions are to be taken if RS rating is greater than 30

Risk Significance (RS) = [ Impact (I) + Likelyhood(L) + Legal Requirements (LR) ] x Frequency (F)

Significance Risk Risk Significant criteria

(R) 1 2 3 4
I = Impact Low Noticeable Great Severe
LR = Legal
No regulations Guidelines & ACoPs Standards Laws & Regulations
requirements
L = Likelihood ˂ 0.1% 10% 50% ˃95 %

F= Frequency Almost Never Rare Regularly Always

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