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Enterprise Risk Management (ERM)

Quantification - Institutional Level

 

     Institutional Level Risk Assessment Template

The institutional level results of the following analysis can be mapped to the Heat Map of Results as shown on the Quantification tab

 

  Likelihood  
Event (unmitigated) Horizon (unmitigated) Control Effectiveness
Very High Certain to occur >88% will occur in next year Controls more than unlikely to delay event or horizon
High Almost certain to occur >60% to 88% will occur in next year Controls unlikely to delay event or horizon
Medium May occur or may not occur >40% to 60% will occur in next year Controls will have no effect on event or horizon
Low Not likely to occur >15% to 40% will occur in next year Controls likely to delay event or horizon
Very Low Very rarely will occur <15% will occur in next year Controls more than likely to delay event or horizon
 
(QUALITATIVE)
(QUANTITATIVE)
(QUANTITATIVE)

 

  Impact
Safety Reputation Fiscal Business Interruption Time
Incurred Cost Lost Opportunity Cost
Very High Loss of life Significant and lasting reputation impact >$5 million >$5M >1 Month
High Significant injury Substantial, but potentially temporary reputation impact >$500K to $5 million >$500K to $5M >1 Week to 1 Month
Medium Injury Minor, likely temporary impact >$100K to $500K >$100K to $500K >1 Day to 1 Week
Low Minor injury Minor impact >$20K to $100K >$20K to $100K >1 Hour to 1 Day
Very Low No loss of life or injury No impact <$20K <$20K <1 Hour
 
(QUALITATIVE)
(QUANTITATIVE)

 

 

 

 

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