RISK ASSESSMENT

RISK FORMULA
Severity Rate * Probability Rate = Risk
(Impact) (Occurrence)

RISK ASSESSMENT MATRIX

Figure 11 – Risk Assessment Matrix

RISK CATEGORY
SEVERITY RATING OF HAZARD

SEVERITY RATING OF HAZARD VALUE

Catastrophic – imminent danger exists, 1

hazard capable of causing death and illness
on a wide scale.

Critical – hazard can result in serious illness, 2

severe injury, property and equipment
damage.

Marginal – hazard can cause illness, injury or 3

equipment damage, but the results would not
be expected to be serious.

Negligible – hazard will not result in serious 4

injury or illness, remote possibility of damage
minor first aid case.

PROBABILITY RATE OF HAZARD

PROBABILTY RATE OF HAZARD VALUE

Probable – likely to occur immediately or 1

shortly

Reasonably probable – probably will occur in 2

time

Remote – may occur in time 3

Extremely remote Frequent - unlikely to occur 4