Risk Analysis – Risk Matrix

Risk Analysis – Risk Matrix

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Risk Analysis – Risk Matrix

Risk Rating (E, H, M or L) is determined from the combination of Likelihood and Consequence assigned to the risk behind each finding.


1 (Insignificant) 2 (Minor) 3 (Moderate) 4 (Major) 5 (Catastrophic)
5 (Almost Certain) M H H E E
4 (Likely) M M H H E
3 (Possible) L M H H H
2 (Unlikely) L L M M H
1 (Rare) L L M M M



E   EXTREME risk – senior or executive management’s immediate attention needed, action plans and management responsibility specified.
H   HIGH risk – senior or executive management’s immediate attention needed, action plans and management responsibility specified.
M   MODERATE risk – manage by specific monitoring or response procedures, with management responsibility specified.
L   LOW risk – manage by routine procedures, unlikely to need specific application of resources.




Rating Descriptor Description Rating Descriptor Description (examples)
5 Almost certain Can expect more than one event annually.

Occurs frequently in this industry.


5 Catastrophic Multiple deaths;

Significant asset/facilities destruction greater than $25m or greater than 6% of operational budget;

National TV news coverage and/or Parliamentary investigation;

Catastrophic, long term environmental harm;

Total cessation of services for more than one week and disruption over subsequent months. Major facility is involved.

4 Likely Can expect event to occur annually.


4 Major Single death and/or multiple injuries;

Loss of asset/facilities $10M to $25M or up to 6% of operational budget;

Major state media coverage and/or departmental investigation;

Significant long term environmental harm;

Total cessation of services for up to seven days and subsequent disruption for two/three months.

3 Possible Can expect event to occur once every three years.


3 Moderate Individual serious injury;

Loss of asset/facilities $1M to $10M or up to 2% of operational budget;

Regional media story and regional/district enquiry;

Significant release of pollutants with mid-term recovery;

Total cessation of services for up to one day and subsequent disruption for one/two months.

2 Unlikely Can expect event to occur once every ten years.

Has happened in the industry in Australia.


2 Minor First Aid;

Loss of asset/facilities $10,000 to $1M or up to 1% of operational budget;

Regional newspaper mention;

Minor/transient environmental harm;

Minor disruption to services for up to one month.

1 Rare Can expect event to occur only in exceptional circumstances.

Not known to happen in this industry.


1 Insignificant No injuries;

Loss of asset/facilities up to $10,000 or up to 0.5% of operational budget;

Regional newspaper, not front page;

Brief pollution but no environmental harm;

No disruption to operations.



Academic Activity:       1.       Teaching and Learning Course Design & Implementation
No. Academic Risk Identification Analysis Academic Risk Treatments
Risk No What can happen L C R Key controls currently in place Residual Risks
1 Areas of Risk: Quality of learning facilities and resources
  1.1 Unable to attract and retain suitable staff






4 4 H (a)      Strategies to attract and retain quality staff

(b)     Academic staff engagement in research/scholarships in their disciplines

(c)      Specification in policies on required experience and qualifications, application of policies across departments

(d)     Policies to supporting equity and diversity of staff profile

(a) Current economic/RQF environment
Learning facilities inadequate, over-crowded or otherwise inconsistent with student and/or legislative requirements












3 3 H (a)      Design and equipping of teaching spaces e.g. Engaging Learning Spaces Working Party

(b)     Provision of resources identified through benchmarking, allocation of resources to priority teaching areas, provision of resources to meet equity obligations

(c)      Policies and processes on resource acquisitions, archiving and/or decommissions

(d)     Consultation with staff and students on research and teaching needs

(e)      Currency and relevance of library collections

(f)      Policies and processes on use of the internet

(g)      Archiving of course profiles and teaching materials

(h)     Disaster recovery plan

(i)       Provision of learning  technology and network capacity for staff/students

(j)       Access to learning resources, compliance with equal opportunity legislation

(k)     Physical facilities and time-tabling software

(a) (i) Quality of offshore learning facilities

(ii) Insufficient flexible learning spaces










Assignment Cover Sheet

Technical Report

Accounting Systems 204

 Due: Week 10 of semester (please refer to the unit outline, lecture and BB announcement for more details).


Name of Tutor: Tutorial day / Tutorial Time:


Family Name / Surname: Other Names: Student ID:






Table of Contents

1.0       Introduction. 1

2.0        The organisation. 1

2.1        Background information. 1

2.2        Key goals needed. 1

2.3        Identification and assessment of risks relating to above goals. 1

3.0        Business cycles. 1

3.1        Revenue cycle. 1

4.0        Database and file structure. 2

5.0        Screens and Reports. 2

6.0        Controls to mitigate risks & Residual risks identification. 2

7.0        Appendices – File relationships and file structure, entry screens, and reports. 2

8.0        Reference List 3

1.0     Introduction

Provide a very brief introduction to the technical report.  State the purpose of the report (WHY you’re writing it) and a brief description of the plan or structure of the report so that the reader knows what to expect.

2.0   The organisation

Provide a short paragraph that briefly introduces the organisation relating to industry given by your tutor.

2.1   Background information

State the core business/es of your organisation as well as its vision and mission.

2.2    Key goals needed

Identify the key goals the organisation should have in order to achieve its vision and mission.  It is important to include a consistent numbering system for the headings and subheadings and use the layout of the report’s headings to indicate the sections and sub-sections.

2.3   Identification and assessment of risks relating to above goals

Identify the risks that the organisation faces when trying to achieve the goals you described in section 2.2.  Then, assess these risks by given them a rating (e.g. Extreme, High, Moderate or Low) using the Risk Analysis – Risk Matrix given in the assignment pack.  Identification of relevant business cycles

3.0  Business cycles

Describe all the business cycles necessary to achieve the goals stated in 2.2 above.

3.1   Revenue cycle

Provide the narration, data flow diagrams (context and level 0) and document flowcharts for the revenue cycle stated in section 3.0.

4.0   Database and file structure

Using a relational database management system (RDBMS) of your choice (e.g. MS-Access, FileMaker, etc), create a database by linking the data files showing the attributes described in 3 above only. Attach screen dumps in an appendix.

Hint: Capture the screen displays by pressing the ctrl-PrtScn keys simultaneously. Paste the captured screen displays in the Paint software (click the start icon on your screen and select the Paint software). Crop and copy/cut, and then paste it in your document. Or, use Jing to capture screens (http://www.techsmith.com/download/jing/).


5.0  Screens and Reports

Describe why the 3 data entry screens and reports are necessary.  Layout should be attached in the appendix.


6.0  Controls to mitigate risks & Residual risks identification

Refer to Risk Analysis – Risk Matrix used in section 2.3.


7.0  Appendices – File relationships and file structure, entry screens, and reports

File relationships:



File structure:

Data Entry Screen and reports:

Textbook: Figure 12.6, page 358; Figure 13.4, page 399; Figure 12.8, page 361.

8.0            Reference List

The reference list should be arranged in alphabetical order by author surname and Chicago referencing style should be used. More information on the Chicago referencing style can be obtained from the Curtin library website: http://libguides.library.curtin.edu.au/content.php?pid=141214&sid=1212910

CBS Communications Skills Centre. 2013. Report Writing: Structure and Content. Curtin University. http://business.curtin.edu.au/local/docs/6_2011_post_IDQA_CS.pdf

UniLife. 2013. “Report Writing.” Curtin University. Accessed May 20, http://unilife.curtin.edu.au/learning_support/report_writing.htm#/learning_support/F1F437D92A4D49C6817991B0B3EA51EF.htm



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