Understanding Risk Management in Modern Projects

This assignment delves into the crucial topic of risk management within modern projects. Students will analyze various risk management frameworks, techniques, and tools used to identify, assess, mitigate, and monitor risks effectively. Drawing upon real-world case studies and examples from diverse fields like construction, IT, and manufacturing, the assignment highlights the importance of proactive risk management in ensuring project success.

Running head: RISK MANAGEMENT
Citi store cafe
Name of the student:
Name of the university:
Author note

1RISK MANAGEMENT
Table of Contents
Introduction:...............................................................................................................................3
Task 1.........................................................................................................................................3
a. Effectiveness:..................................................................................................................3
Purpose:..................................................................................................................................4
b. Legislative context:.........................................................................................................4
Task 2.........................................................................................................................................4
a. Scope:..............................................................................................................................4
Internal and external stakeholders:.........................................................................................5
b. Role in risk management:................................................................................................5
Task 3.........................................................................................................................................5
a. PEST analysis:................................................................................................................5
SWOT analysis:......................................................................................................................5
b. Objective:........................................................................................................................6
c. Management support:......................................................................................................6
Risk assessment:.........................................................................................................................6
4.a. Identification:...................................................................................................................6
4.b. Brainstorming session:....................................................................................................7
4.c. List of risks:.....................................................................................................................7
Task 5.........................................................................................................................................8
a. Analysis and evaluation:.................................................................................................8

2RISK MANAGEMENT
b. Likelihood matrix:.........................................................................................................10
c. Consequence matrix:.....................................................................................................10
d. Risk mitigation:.............................................................................................................11
Risk implementation and monitoring:..................................................................................13
Task 6:......................................................................................................................................14
a. Suitable Risk treatment methods:.........................................................................................14
Initial risk identification and analysis process:....................................................................15
Implementation of Action plan:............................................................................................15
Monitoring and evaluation phase:........................................................................................15
b. Risk management action plan:.............................................................................................15
c. Risk register:.....................................................................................................................16
d. Risk treatment and stakeholder support including communication plan:............................16
Appendices:..............................................................................................................................17
Reference..................................................................................................................................27

3RISK MANAGEMENT
Introduction:
The subject matter of the present report is to discuss over the issues of risk
management, identify the possible risks, and critically evaluate the same. In case of opening
any cafe or restaurant, all available risk materials are to be analysed properly to avoid any
future problems and therefore, it can be stated that the purpose of the risk management is to
verify the problems and consists of certain activities to resolve the adverse impacts of the
business. It is obvious to state that the risk management is essential for the continuance of a
business (Bohari, Hin & Fuad, 2017). It is important to identify the risks properly so that the
risks can be avoid with highest priority and the essence of risk management should be applied
on both the external and internal sources. An effective risk management can be categorised
into three parts: identify a strategy; examine the risks and implementing necessary plans for
the effective imposition of the same (Hoffmann, Schiele & Krabbendam, 2013).
Task 1
a. Effectiveness:
In this report, it has been observed that a new cafe is going to be opened within the
premises of Citi-stores. There are certain common risks available regarding the cafe and that
should be framed under perfect management strategy. The objective of risk management
policy is to ensure the interest of the clients and stakeholders and to provide quality service to
the customers. Risk can be occurred from the contractual obligations of the cafe and to avoid
this problem, it is important to verify all these risks. Considering all the effectiveness of the
risks management, it becomes an integral part of an establishment. This report has stated the
scope of the risk management process and communication between the stakeholders
(Giorgetti et al., 2013). Another issue regarding the cafe is the political, economic, social and

4RISK MANAGEMENT
technological analysis that plays an important role regarding the running of business. The
management standard as provided in the case (AS/NZS ISO 31000:2009) will help to
understand the legality of the standard and will prove its strong base.
Purpose:
The standard AS/NZS ISO 31000:2009 will provide generic guidelines regarding the
risk management in this case and this standard is not specific in nature. Any company can
apply for the standard. The purpose of the standard is to provide context, structure, processes
and services of the particular project. It should be kept in mind that the purpose of the
standard is not providing certificate.
b. Legislative context:
Two types of legislative contexts can be observed in this case such as professional
standard legislation and professional indemnity insurance. Under the professional standard
legislation, an attempt has been made to improve the standard of the professionalism. It will
help to deliver standard protection service for the customers and work for the interest of the
customers. There are certain legislatures enacted to reduce the risk criteria such as Trade
Practice Act 2006 etc.
Task 2
a. Scope:
There are two scopes present in the risk management process. The process will
narrate the risk management criteria in the new project and the it will deliver the products or
services that generalised the regular operation. The report will demonstrate certain risk
management planning and identification process. It deviates the projection failures and helps
to chalk out the management policies regarding the improvement of the standard of the cafe.

5RISK MANAGEMENT
Internal and external stakeholders:
There are two types of stakeholders in a cafe such as the internal and the external
stakeholders. Owner of the cafe is the internal stakeholder and suppliers, customers and the
other staffs are fall within the category of the external stakeholders.
b. Role in risk management:
The administrative work of the cafe is depending on the stakeholders and the cafe
runs its business through them. Therefore, they are playing an important role in risk
management. Every outcome of the risk will be discussed with them and it is their duty to
maintain all requirements properly for the benefit of the society and the business.
Task 3
a. PEST analysis:
It includes political, economic, socio-cultural and technological factors appropriate
for a cafe business. There is no link in between the company and the country and therefore
there is no direct control of the political factors can be observed. The economic factors
include inflation rate, exchange rate or the calculation of the expenditures that can be affected
the cafe business from economic aspects. Among the socio-cultural factors, the current trends
regarding the cafe or the tastes of the customers are responsible. The developed machines
regulate all the modern cafes and therefore, technological factors are playing important role.
SWOT analysis:
In this competitive world, it is required to do something new and therefore SWOT
analysis is effective in this case. The impeccable locations or the fruitful services can be
strength of the cafe. On the other hand, the quality of the product or the poor feedback from

6RISK MANAGEMENT
the customer will be the weak point of the cafe. If certain weekly surprises such as “coffee of
the month” or special discount can be given to the customers, it will be treated as opportunity
to the cafe. The location of the cafe should be ideal for the business. If it is located in the area
where there is too much rainfall that can be a serious threat to the business.
b. Objective:
The main objective of the project is to chalk out an out frame regarding the cafe and
assess the risks regarding the promotion of the business. Certain things are necessary
regarding the establishment of a cafe and the scope of the business has also been discussed.
c. Management support:
Management support is one of the most important things for starting cafe business
and assesses the risks. Management is one of the most important part of the business
framework. They have the practical knowledge about the business. Therefore, they can assess
the risks and their help is required. Feedback can be appropriate in this case. Proper training
to the employees can also be important in this case.
Risk assessment:
4.a. Identification:
It is important to identify the potential risks to avoid any future contradiction. There
are certain lists of common risks present in a business:
 Risk regarding natural disaster;
 Risk regarding legal issues;
 Risk regarding technical faults;
 Risk regarding environment concerns;
 Risk regarding health and safety;

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 Risk regarding financial policies;
 Risk regarding the suppliers and the marketing policies;
 Risk regarding utilities and services.
4.b. Brainstorming session:
The above mentioned risks are there for every business and therefore, it is important to point
out the ideas and generate new ideas to solve the problems. There are many techniques to
point out the ideas. The ultimate goal should resolve the problems that take place during the
business. Brainstorming session is perfect as in this case it is easy to take all the problem
solving methods together and analyse all to curve out the ultimate solution. There are two
parts of the session. The first one is the silent brainstorming and the other is structured
brainstorming. In this report, the methods of silent brainstorming have been adopted.
4.c. List of risks:
Regarding the first problem, it can be stated that natural disaster like heavy rainfall
or draught can create impact on the business. The foods that are available in the cafe can be
affected by these natural disasters and therefore, the price of the cafe can be affected by this.
The second problem is important as it is related to the validity of the business and therefore it
is important to look after the legal; structure of the business carefully. It is important to
register the name of the cafe and apply for the proper licence regarding the same. certain
rules are to be followed regarding the employment of the staffs are necessary (Pathak et al.,
2014). The rules can be related to the health and safety measures, pay and entitlement
procedures, superannuation and compensation available to the workers. The warranties and
the refunding methods are needed to be followed the rules prescribe under Competition and
Consumer Act 2010. There should be certain environmental restrictions maintained within
the workplace. It has been observed that risks are generated regarding the taxing policies of a
business and therefore, it is important to pay all the taxes related to the cafe and identify the

8RISK MANAGEMENT
issues if any for the betterment of the business. It is necessary to keep the workplace safe for
the customers and the employees working in it. There should be certain emergency exit and
fire extinguisher in the cafe. Insurance policy is necessary regarding any business as it
protects the business from any defects. These policies are mandatory and if careful strategies
are not taken in this regard, risk can be cropped up at any time. Another important thing
regarding the business process is to maintain a code of practice so that all the problems
related to the business can be resolved in a systematic way. The future of a cafe is depending
on the sale of the products and on its customers. It is required that the cafe should take
appropriate strategy to protect the rights and responsibilities of the customer. If there is any
gap noticed regarding customer service, it will cause serious risk and therefore, it is important
to identify all the above named risks properly to avoid the dispute in the business. It should
be taken into consideration that the main objective of the brainstorming is to generate ideas
only; therefore, judgment is not required in this case.
Task 5
a. Analysis and evaluation:
Risk analysis of a business is helpful to understand the potential harms and the way
to avoid the same. It should be kept in mind that the risk analysis is an immediate step after
the identification of risks. This report is stating about the incorporation of a new cafe.
Therefore, it is no doubt to state that all the risk identification and the analysis is based on
assumption (Litvin et al., 2014). It is important to draw a table regarding the same and all the
aspects of the risk management should important to analyse. The risk can be done through
certain risk matrix such as likelihood matrix or consequence matrix. According to the
problem number 5 of the assessment, the criteria of risk can be evaluated as follows:

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Level and descriptor Health
impacts
Critical
service
interruption
Organisational
outcomes
Reputatio
n and
image
Non-
compliance
Rare First aid
service
No
disruption
yet
Small impacts No impact Evidence
of good
faith
Low Routine
medical
check-up
Temporary
suspension
Delay
regarding
inconvenience
Negligible
impacts
Lodging of
complaints
Moderate Increment
in
medical
level
Increment in
temporary
suspension
level
Marginal
under-
achievement
targets
Slow
resolution
Lack of
good faith
High Serious
health
crisis
Additional
requirement
s on prolong
suspension
Performance
significantly
under target
Repeated
fault
Gross
negligence
Extreme Multiple
health
crisis
Non-
performance
Performance
failure
Loss of
credibility
Wilful
breach and
criminal
negligence
Risk Evaluation Criteria

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b. Likelihood matrix:
In case of opening a new cafe in the premises of Citi store, it is important to determine certain
likelihood risk criteria and that should be based on the risk management issues. The probable
risks has been discussed earlier and therefore, each of the points are to be discussed on the
basis of expected frequency. The probable risk likelihood criteria have been discussed below
regarding the newly opened cafe:
Level Likelihood Expected frequency
1 Rare May takes place in exceptional cases
2 Unlikely Chances of occurrence is less than 25%
3 Possible Chances of occurrence is more than 25% but less than 50%
4 Likely Chances of occurrence is more than 50% but less than 75%
5 Extreme Chances of occurrence is more than 75%
Likelihood Table
c. Consequence matrix:
It has been observed that there are certain risks that may take place regarding the running of
the business and therefore it is important to notify all the expected risks based on the
likelihood table and in this case, it is required to verify the level of consequence. The table of
consequence should be dealt with the criteria regarding the levels and would determine the
level of the risks. The probable consequence matrix regarding the same is stated below:
Likelihood insignificant Low Moderate High Extreme
Rare Low Low Low Low Low
Unlikely Low Low Low Medium Medium
Possible Low Low Medium Medium Medium
Likely Low Medium Medium High High
Certain Low Medium Medium High Extreme

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Consequence Table
d. Risk mitigation:
It is important to address all the risks and develop certain processes to overcome the
issue. It is obvious to state that all the risks regarding opening of a business should be clearly
identified and that should be resolved with highest priority. The consequence will be
detrimental if the risk could not be identified properly (Pidgeon et al., 2017). There are
certain strategies lying behind every successful cafe or restaurant. These strategies assist to
reduce the risk of serious accident. The strategies can be categorised as follows:
Training is an inevitable process of the business program and it is important to
provide proper training to all the employees. There is certain options fall within purview of
training process. In cafe, certain modern instruments are used to serve the customers proper
food quickly. Therefore, certain machines are using to complete the job perfectly. Thus, the
employees of the cafe should know how to use these equipments properly. Sufficient training
is necessary in this case. A cafe should remain a safe place for the customers and it should be
kept in mind that all the safety measures should be kept within the premises of the cafe.
However, there are certain things that are needed to be used by experienced personalities.
Therefore, training is needed. Customers are the most attracting part of the cafe and they
should be treated well for the betterment of the business. Therefore, it is required that all the
employees of the cafe should take proper care of them and they could fulfil the demand of the
customers. It is also necessary to teach the employees what to offer when the customer is
angry with the service and the foods of the cafe.
The second strategy is the way of using the technology properly. This is an era of
digital age. Therefore, it is important to protect the web-based contents of the cafe with the

12RISK MANAGEMENT
highest technologies. The security cameras should be in well condition and the innovative
technologies should be processed within the territory of the cafe. Therefore, it is important to
keep the premises of the cafe secured technically.
In the modern cafe, various instruments are used to ease the job and make all the
necessities properly. It is also important to keep the cafe clean. Therefore, proper
maintenance of the facilities are important in this case. It is necessary to keep the kitchen of
the cafe tidy and clutters should be cleaned. In case of the winter season, there should be
necessary arrangements present in the cafe. The equipments used in the cafe should also need
to be maintained in an appropriate manner so that there should be no risks regarding the
running of the cafe business in a smooth way (Papadopoulos, 2015).
The cafe should have to follow all the rules regarding the health and safety codes. The
employees should have health insurance and the authorities should be taken care of the health
and hygiene of the employees. Rules should be maintained in case of the storage of foods, it
is therefore needed to wear certain disposable gloves during storing of the foods, and all
related things. The safety equipments arte also needed to be maintained as per the rules of the
business.
One of the primary risk-mitigating things is to have proper licence regarding the
running of business. It is a necessary thing to smooth the way of business and it legalises the
way of the business. two types of licence is required in this case of running cafe- the first one
is food service licence and the other one is business licence. The licence should be acquired
from the proper authority. To avoid other risks or natural disaster, it is important to bring the
cafe under the purview of small business interview (D'Addario, 2013).
It is important to maintain a risk register in the business so that it can be easy to
identify all the risk factors properly. In the register, there are certain things that should be

13RISK MANAGEMENT
included such as full description of the risks, the necessary strategic project of the business,
date of the added risk, date when the controls regarding risks are assessed, ratings regarding
the control effectiveness, risk score of the likelihood and the consequence level. It is
important to draw proper ratings regarding the residual risks. The treatments that have been
taken by the authority should also be inserted within the register and status of the treatment
plan is required.
It is important to develop a strategic policy regarding the engagement of the
stakeholders. Stakeholders should be critically analysed with the purpose to adopt the proper
implementation process. Communicating with the stakeholders are an important matter. To
promote the matter, it is required to develop the key messages regarding the welfare of the
stakeholders.
Risk implementation and monitoring:
There are certain codes that provide the guidelines regarding the risk management and one of
such code is ISO 31000:2009 that used by any association or individual. The most important
part of it is that it can be applied in case of any risk, does not matter whether it creates any
positive or negative impacts. The guidelines are important to promote the uniformity of the
risks. The CitiGroups are following the guidelines mentioned by the ISO standard and it has
been observed that the group somehow able to mitigates the risks carefully. The group acts as
a leader in transformation process of the financial sectors and make an approach regarding
equator principles. The group has engaged into community development process. The group
has maintained the risk management policies by way of continuous policy methods and the
progression of the group is depending on the sustainable global strategy (Talay & Yoon,
2013).

14RISK MANAGEMENT
The legislative aspects of the citigroup are also demonstrating in nature. The obligations
implemented by the Australia Council Risk Management have been maintained b y the group.
The group is much concerned about dealing with the fraud cases and the protective security
policies are abide by the group systematically. The group is a promising feature regarding the
legislative risk management group. It has also been stated that the group is following the rules
regarding work health and safety process (D'Addario, 2013).
Stakeholder communication plan is important to achieve the goal and it should be noted that
this plan is far different than the action plan. Certain objectives are needed to be set out
regarding the same. an effective stakeholder plan is based on the proper communication
process and it is important to resolve the problem by way of setting key messages for the
improvement of the organisation. The stakeholders who are playing important role regarding
the implementation of the safety rules are to be prioritised by the authority.
Task 6:
a. Suitable Risk treatment methods:
Citi Group should develop a risk management project team to treatment each type of
risks. The project team of Citi Group consist of Central Risk Officer (CRO) who would lead
a team of project team consisting of all the departmental heads or functional leads of
Citigroup, executive stakeholders, functional subject matter expert (SME), ITS sponsor
and IT security expert. The senior project manager would function as the CRO while the
other members would identify and analyse risks. Then they would implement actions to
mitigate risks and monitor their effectiveness of the risk management strategies and actions.
They would also complete the risk matrices and maintain risk register. The following section
would shed light on the responsibilities of the delegates of the project team:

15RISK MANAGEMENT
Initial risk identification and analysis process:
The departmental heads, the IT security expert and the executive stakeholder would
identify the risks. For example, the IT expert can identify risks like threats to the knowledge
management system while the marketing departmental head can point out emergence of a
new financial group, which may adverse impact the business of Citi group. The project
management team can analyse the risks and its power to influence Citi Group. For example,
the heads of the marketing and the finance department can present a report before the CRO
regarding the probable business loss Citi Group may suffer if the newly emerging financial
group succeeds in the market.
Implementation of Action plan:
The action plan to manage risks must consist of options the project team chooses to
treat the unacceptable risks. The project management team can present the risk report before
the apex management and analyse the risks pointed out in the report. They and project
manager can then form strategies to counteract the risks. The project team can then
implement the risk aversion steps to counteract these risks.
Monitoring and evaluation phase:
The project manager and the project management must conduct risk monitoring and
evaluation on regular basis. They should emphasise on formation of both designs and
operational roles for controlling risks. They should identify any newly emerging risks and
form strategies to control them.
b. Risk management action plan:
The risk management action should consist of the types of various categories like
financial, situational and marketing risks. The risk management plan as shown in the

16RISK MANAGEMENT
appendix should identity the different types of risks and the methods which would be used to
manage them.
c. Risk register:
The project management team under the leadership of the project manager should
maintain all the matrices and documents related the risk management. The documents consist
of risk register, risk audit, treatment plans, action plans and progress. The team must file and
maintain these documents for future reference (Appendix B).
d. Risk treatment and stakeholder support including communication plan:
The key risk treatment plans would be developed by engaging the key stakeholders
like governments and customers, as shown in the appendix. Citi Group must communicate
with the key stakeholders about the risks and their consequences. For example, the the retail
chain inform government about its new business requirements like fresh tax concessions
required in case of new pilot low profit outlets in rural areas. Similarly the consumers can be
informed about new variants of existing products. These products are better but cost higher
than their older versions. Transparent communication helps the companies to inform their
stakeholders about the risks and gain their support in dealing with the risks.

17RISK MANAGEMENT
Appendices:
Appendix A:
Communications Plan
Group
Participant
s
Departmental
heads or
functional leads
of Citi Store
Executive
stakeholders
Functional
subject matter
expert (SME),
ITS sponsor and
IT security
expert.
Name of
stakeholder and
position (internal or
external)
Role in risk
management
process
Issues or
concerns
raised
Method of
communicatio
n
When and
how often
Government(External
)
Makes laws and
policies like Safe
Work Australia
Act 2008,
provides security
in case of
extreme risks like
terrorist attacks
(
Legislation.gov.au.
Frequent
changes of
laws
involving
risk
managemen
t in fields
like
financing
Government
communicates
with the
companies
regarding
abiding of laws
through
circulars and
the official
The
communicatio
n takes place
wherever the
necessity
arises.

18RISK MANAGEMENT
2017)
risks
require
companies
to change
their risk
managemen
t policies on
frequent
basis
websites of
various
departments.
The companies
communicate
with the
different
government
bodies through
mails and
letters
Customers(external) They provide
revenue to the
companies by
buying their
products. The
companies use
this revenue to
form and
implement risk
management
procedures
The
customers
can switch
over to
competitor
firms and
impact the
revenue
generation
of a
company.
This poses
risks to the
market
Customers
communicate
on by mails,
calling up
customer
support
departments
and during
surveys.
Companies
communicate
through
advertisements,
brochures and
On regular
basis

19RISK MANAGEMENT
position and
financial
strength
through emails
Employees and apex
management(internal
)
Forms and
implements
strategies to
mitigate risks
Conflicts
between
employees
and
managemen
t aggravates
risks
Emails.
Meetings,
letters,
conferences,
interviews
On regular
basis
External risk
management
consultant(external)
Provides advices
and management
services to
companies to
counteract risks.
The
company
has to share
internal
data with
these
consultants
which
exposes
them to
risks of data
thefts
Emails,
conferences
When risks
are detected.
However,
some big
companies
enter into
contracts with
these risk
management
firms to
recognise risks
on their behalf
and provide
them risk

20RISK MANAGEMENT
management
services
Supplier, distributors,
investors(external)
Suppliers provide
raw materials,
distributors allow
company to sell
products-they
help companies
to generate
revenue required
to manage risks.
Investors invest
in the shares of
the companies
and provides
capital to the
companies
Loss of
support
from
suppliers,
distributors
and
investors
can lead
loss of
production
and market
Mails,
conferences,
meetings
On regular
basis
Appendix B:
Risk Register Template

21RISK MANAGEMENT
Pro
vid
e a
uni
que
ID
no.
Descr
ibe
the
risk
&
impa
ct on
org.
e.g.
serio
us
e.g.
likel
y
Any
existin
g
manag
ement
/
treatm
ent
contro
l
alread
y in
place
Specif
y
planne
d
strateg
ies.
May
be
preve
ntativ
e or
contin
gency
$
e.g.
high
e.
g.
1
e.g.
Na
me
of
pers
on
&
posi
tion
e.
g.
hi
gh
to
lo
w
Date
Na
me
01
Natur
al
disast
ers
Very
serio
us
likel
y
Buildi
ng
raised
platfor
ms to
avoid
floodi
ng
Flood
contro
lling
gates
and
more
storm
drains
within
the
premi
ses
1000
0000
Very high 1
Nat
ural
disa
ster
exp
erts
V
er
y
hi
gh
31.12
.2017

22RISK MANAGEMENT
02
Data
Theft
serio
us
likel
y
Strong
passw
ord
Strong
passw
ord
1000
000
high 1
IT
hea
d
hi
gh
31.12
.2017
03
Injuri
es
mod
erate
Pos
sibl
e
Safety
measu
res
Safety
measu
res
1000
0
High/
moderate(de
pends on
types of
injuries)
2
Proj
ect
man
ager
hi
gh
Mont
hly
04
Mach
inery
Failu
res
low
Pos
sibl
e
Servic
ing
Servic
ing
1000
0
High/
moderate(de
pends on
types of
breakdown)
2
Proj
ect
man
ager
hi
gh
Mont
hly

23RISK MANAGEMENT
Risk treatment schedule example
Risk treatment schedule and plan
Organisation…………………………………………………………………………………
…………….
Risk
priority
Possible
treatmen
t options
Preferre
d options
Risk
rating
after
treatmen
t
Result of
cost
benefit
analysis
A-accept
B-reject
Person
responsi
ble for
impleme
nt option
Impleme
nt
timetable
Monitori
ng of
risk and
treatmen
t
1
Very low
or none
Independ
ent
review
1 A
The
workers
individua
lly
Annually Yes
02
Mow or
minor
Line
managen
ent
review
2 A
Line
manager
s
Annually Yes
03 Moderat
e or
significa
nt
Regular
checking
and
monitori
ng
3 A Line
manager
s
Monthly Yes

24RISK MANAGEMENT
injuries
04 high
Apex
manage
ment
supervisi
on
4 A
Apex
manage
ment
daily Yes
Date of review………………… Compiled by…………………. Reviewed by………………….
Risk Matrix:

25RISK MANAGEMENT
Consequence
INSIGNIFICA
NT
small/unimportant;
not likely to have a
major effect on the
operation of the
event / no bodily
injury to requiring
minor first aid
injury
MINOR
minimal
importance
;
has an
effect on
the
operation
of event
but will not
affect the
event
outcome /
requires
minor
medical
treatment
SIGNIFICA
NT
serious/
important;
will affect the
operation of the
event in a
negative way /
suffers serious
injuries or
medical
treatment of
minors
MAJOR
serious/
important;
will affect the
operation of
the event in a
negative way /
multiple
serious
injuries or
medical
treatment of
minors / major
loss of
revenue
CATASTROP
HIC
maximum
importance;
could result in
disaster/death; WILL
affect the operation of
the event in a
negative way / death,
dismemberment or
serious injury to
minors / major loss of
revenue
ALMOS
T
CERTAI
N
This risk
WILL
occur at
this event,
possibly
multiple
times, and
has
occurred in
the past
MEDIUM (5) HIGH
(10)
VERY
HIGH (15)
EXTREM
E (20)
EXTREME
(25)
HIGH
This risk is
LIKELY
occur at
this event,
possibly
multiple
times, and
has
occurred in
the past
MEDIUM (4) MEDIU
M (8) HIGH (12)
VERY
HIGH
(16)
EXTREME
(20)
MEDIU
M
This risk
will MOST
LIKELY
occur at
this event
LOW (3) MEDIU
M (6)
MEDIUM
(9)
HIGH
(12)
VERY HIGH
(15)
UNLIKE
LY
This risk
has rarely
been a
problem
but could
occur if a
situation
arises
VERY LOW
(2)
LOW
(4)
MEDIUM
(6)
MEDIUM
(8) HIGH (10)
RARE
This risk
has rarely
been a
problem
and never
occurred
VERY LOW
(1)
VERY
LOW
LOW (3) MEDIUM
(4)
MEDIUM (4)

26RISK MANAGEMENT
Lik
elih at a
college
event of
this nature
(1)

27RISK MANAGEMENT
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