Week 8

2.8 Risk and risk assessment

2.8.1 Know and understand that risk is assessed in terms of likelihood and severity at different levels in a five-by-five matrix:

• Likelihood:

o improbable

o remote

o occasional

o probable

o frequent.

• Severity:

o negligible

o marginal

o moderate

o critical

o catastrophic.

2.8.2 Be able to interpret and create a risk assessment matrix.

2.8.3 Know and understand the purpose of risk assessment documentation:

• ensure continuity of service

• ensure health and safety of people

• ensure regulatory compliance.

2.8.4 Know and understand risk assessment documentation:

• a description of the risk

• who/what might be harmed/damaged

• a description of how the harm/damage might occur

• the mitigation already in place

• details of additional required mitigation

• who is responsible for carrying out the mitigation?

• the due date for completion.

2.8.5 Be able to interpret and create risk assessment documentation

Last Updated
2025-06-05 09:31:59