RISK GUIDANCE NOTES (FAILUE MODE EFFECT ANALYSIS)

ASSESSMENT GUIDANCE

Risk = Likelihood x Severity or Consequence

Use the impact matrix below to calculate the risk rating for the activity

Severity or Consequence 02 years 01 year 06 Months 03 Months 01 Month

Likelihood 1 2 3 4 5

Very likely 5 5 10 15 20 25

Fairly likely 4 4 8 12 16 20

Likely 3 3 6 9 12 15

Unlikely 2 2 4 6 8 10

Very unlikely 1 1 2 3 4 5

Risk and Planned Corrective Action to be rated from the following:

Risk Level Category Tolerability Comments

1-4 LOW ACCEPTABLE No additional controls are required unless they can be implemented (in terms of time and effort).

Consideration should be given as to whether the risks can be lowered, where applicable, the
5 - 12 MEDIUM TOLERABLE control measure turns the risk to preferably acceptable level,. The risk reduction measures should
be implemented within a defined time period if applicable.
Significant efforts should be made to reduce the risk. Risk reduction measures should be
implemented urgently within a defined time period and it might be necessary to consider
13 - 25 HIGH UNACCEPTABLE suspending or restricting the activity, or to apply interim risk control measures, until this has been
completed. Considerable resources might have to be allocated to additional control measures. The
effectivness of the control measures are to be verified periodically