- Home
- Energy management
- Introduction
- Global warming
- Australia's greenhouse gas emissions
- Drivers for change
- Key policy & regulations
- Industry leadership
- Energy management principles
- Energy measurements
- Collecting energy data
- Transmission & distribution loss factors
- Calculating greenhouse gas emissions
- Key energy use areas
- Energy efficient methods
- Safety
- Motors, pumps and fans
- Energy efficient lighting
- Heating, cooling and solar
- Acknowledgements
The Risk Management Process
7. Charting risks The chart plots the probability of the occurrence of a risk. Will the risk have a severe impact on the budget, timelines or delivery of the key project, or on department outcomes? You need to assess how severe the impact will be and what you feel the probability of this occurring will be. If you are very experienced, then this task will not be daunting. Remember, you have to start somewhere. The Risk Assessor and the Project Manager usually completes this job. You will find that sometimes even they are making subjective assessments.
8. Consequence and likelihood tables, and the risk matrix The following table shows how to analyse and rate risks.
The following table shows you how the likelihood of an event occuring can be combined with the consequences of that event to give a risk rating. Consider an event that has a 'moderate' consequence, but is 'almost certain' to occur. The risk matrix (below) shows a standard way of evaluating the likelihood and consequence of a particular risk, to get a 'risk rating'.
The combination of a risk with moderate consequences, but one which is almost certain to happen results in a high risk rating, highlighting that action must be taken to reduce this risk.
Click on the icon to obtain instructions for Activity 2.01 |
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