The University of SydneyPage 33AS/NZS ISO 31000-2018 –Risk Management Process–Level of risk determination depends of type of analysis done (qualitative/quantitative)Analyse Risksl Identify current controlsl Determine consequencesl Determine likelihoodl Determine level of risk
Using qualitative analysisLikelihoodConsequences1. Insignificant2. Minor3. Moderate4. Major5. CatastrophicA(almost certain)HighHighExtremeExtremeExtremeB (likely)ModerateHighHighExtremeExtremeC (moderate)LowModerateHighExtremeExtremeD(unlikely)LowLowModerateHigh ExtremeE (rare)LowLowModerateHighHigh