Annex 5 - Risk Rating Matrix
This chapter to be reviewed by November 2008
DEFINITIONS OF RISK RATINGS
Very High Risk - these are classed as primary or critical risks requiring immediate attention. They may have a high or low likelihood of occurrence, but their potential consequences are such that they must be treated as a high priority. This may mean that strategies should be developed to reduce or eliminate the risks, but also that mitigation in the form of (multi-agency) planning, exercising and training for these hazards should be put in place and the risk monitored on a regular frequency. Consideration should be given to planning being specific to the risk rather than generic.
High Risk - these risks are classed as significant. They may have high or low likelihood of occurrence, but their potential consequences are sufficiently serious to warrant appropriate consideration after those risks classed as "very high". Consideration should be given to the development of strategies to reduce or eliminate the risks but also that mitigation in the form of at least (multi-agency) generic planning, exercising and training should be put in place and the risk monitored on a regular frequency.
Medium Risk - these risks are less significant but may cause upset and inconvenience in the short-term. These risks should be monitored to ensure that they are being appropriately managed and consideration given to their being managed under generic emergency planning arrangements.
Low Risk - these risks are both unlikely to occur and not significant in their impact. They should be managed using normal or generic planning arrangements and require minimal monitoring and control unless subsequent risk assessments show a substantial change, prompting a move to another risk category.