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Enterprise Risk Management (ERM)

Quantification - Unit Level

 

    Unit Level Risk Assessment Template
The unit 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 Strategic
Incurred Cost Lost Opportunity Cost
Very High Loss of life Significant and lasting reputation impact >20% >20% >1 Month Not aligned with strategic initiatives
High Significant injury Substantial, but potentially temporary reputation impact >20% to 10% >20% to 10% >1 Week to 1 Month Substantial alignment necessary
Medium Injury Minor, likely temporary impact >10% to 5% >10% to 5% >1 Day to 1 Week Alignment necessary
Low Minor injury Minor impact >5% to 1% >5% to 1% >1 Hour to 1 Day Slightly unaligned
Very Low No loss of life or injury No impact <1% <1% <1 Hour Aligned with strategic initiatives
 
(QUALITATIVE)
(QUANTITATIVE)

 

 

 

 

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