Risk assessment template and matrix
RISK ASSESSMENT MATRIX AND TEMPLATE
Queensland State Archives
Risk assessment matrix
Below is an example of a risk assessment matrix commonly utilised by government departments to describe, analyse, assess, rate and control hazards or risks.
CONSEQUENCES
Negligible / Low / Minor LIKELIHOOD Insignificant
Rare
LOW
Consider accepting the risk or routine management
LOW
Consider accepting the risk or routine management
Unlikely
LOW
Consider accepting the risk or routine management
LOW
Consider accepting the risk or routine management
Possible
LOW
Consider accepting the risk or routine management
MEDIUM
Specify responsibility and action
Medium / Moderate
LOW Consider accepting the risk or routine management
MEDIUM Specify responsibility and action
MEDIUM Specify responsibility and action
Very high / Major
MEDIUM Specify responsibility and action
MEDIUM Specify responsibility and action
HIGH Quarterly senior management review
Extreme / Critical
HIGH Quarterly senior management review
HIGH Quarterly senior management review
HIGH Quarterly senior management review
Likely
Almost Certain
MEDIUM Specify responsibility and action
MEDIUM Specify responsibility and action
MEDIUM Specify responsibility and action
MEDIUM Specify responsibility and action
HIGH
Quarterly senior management review
HIGH
Quarterly senior management review
HIGH
Quarterly senior management review
EXTREME
Monthly senior management review
EXTREME
EXTREME
Monthly senior Monthly senior
management management
review
review
Risk Assessment Matrix and Template
Example risk assessment register
Risk description
There is a strong likelihood that the allocation of grant monies will become the subject of public scrutiny through the Right to Information (RTI) process.
Failure to produce evidentiary public records required under RTI could prejudice the rights of individual citizens, organisations or the public authority.
Likelihood
Possible: The event could happen at sometime within 5 years.
Potential impact of risk
Existing risk reduction Consequences
measures and/or
rating
controls
If records are not produced in accordance with the Right to Information Act 2009 the public authority may be subject to penalty.
The failure within the process could potentially affect community confidence in the relevant public authority.
Services would continue but recordkeeping practices would need to be reviewed for cause of failure and corrective measures implemented.
Review recordkeeping practices for documenting and reporting against funding programs with particular attention to the public records kept of the evaluation of funding applications and the dispersal of funds.
Ensure that regular internal audits of funding programs are undertaken and that records of audits are kept for the appropriate period.
Medium:
Potential likelihood to threaten the running or services of the public authority and can be managed by implementing new or modified recordkeeping controls.
Level of risk
Significant
Priority rating
Queensland State Archives
2
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