This lesson covers how to score the inherent risk of a risk assessment using a Likelihood by Consequence matrix.
What you'll cover:
What inherent risk is. The risk before any controls are applied, what the risk would be if you weren't doing anything about it.
Likelihood. The five options, from Constant (daily) through to Rare (yearly), and picking the one that matches your situation.
Consequence. The five options, from Insignificant (no injury) through to Catastrophic (fatality or permanent impact).
The result. How your two choices calculate into a rating, with a preview showing where it sits on the 5 by 5 matrix.
Key takeaways:
Inherent risk is scored before controls, so it reflects the raw risk rather than how well it's currently managed.
The rating comes from Likelihood multiplied by Consequence, for example Regular times Moderate equals Medium.
The preview matrix shows your position on the 5 by 5 grid, so you can see how the score sits relative to everything else.
IN THIS COURSE
2
.
E13. From survey data to risk assessment
2
min
2
.
E14. Creating custom risk assessments
2
min
1
.
E15. Inherent risk scoring
1
min
2
.
E16. Exposure assessment
2
min
1
.
E17. Risk status workflow and treatment strategy
1
min
1
.
E18. Residual risk scoring and the was-vs-now comparison
1
min
1
.
E19. Hazard category drill-down
1
min
