RISK ASSESSMENT MATRIX AND
TEMPLATE
Queensland State Archives
Risk assessment matrix
Below is an example of a risk assessment matrix commonly utilised by government departments to
describe, analyse, assess, rate and control hazards or risks.
LIKELIHOOD
CONSEQUENCES
Negligible /
Insignificant
Low / Minor
Medium /
Moderate
Very high /
Major
Extreme /
Critical
Rare
LOW
Consider
accepting the
risk or routine
management
LOW
Consider
accepting the
risk or routine
management
LOW
Consider
accepting the
risk or routine
management
MEDIUM
Specify
responsibility
and action
HIGH
Quarterly senior
management
review
Unlikely
LOW
Consider
accepting the
risk or routine
management
LOW
Consider
accepting the
risk or routine
management
MEDIUM
Specify
responsibility
and action
MEDIUM
Specify
responsibility
and action
HIGH
Quarterly senior
management
review
Possible
LOW
Consider
accepting the
risk or routine
management
MEDIUM
Specify
responsibility
and action
MEDIUM
Specify
responsibility
and action
HIGH
Quarterly
senior
management
review
HIGH
Quarterly senior
management
review
Likely
MEDIUM
Specify
responsibility
and action
MEDIUM
Specify
responsibility
and action
HIGH
Quarterly
senior
management
review
HIGH
Quarterly
senior
management
review
EXTREME
Monthly senior
management
review
Almost
Certain
MEDIUM
Specify
responsibility
and action
MEDIUM
Specify
responsibility
and action
HIGH
Quarterly
senior
management
review
EXTREME
Monthly senior
management
review
EXTREME
Monthly senior
management
review
Risk Assessment Matrix and Template
Queensland State Archives 2
Example risk assessment register
Risk description
Likelihood
Potential impact of risk
Existing risk reduction
measures and/or
controls
Consequences
rating
Level of
risk
Priority
rating
There is a strong
likelihood that the
allocation of grant
monies will become
the subject of public
scrutiny through the
Right to Information
(RTI) process.
Failure to produce
evidentiary public
records required
under RTI could
prejudice the rights of
individual citizens,
organisations or the
public authority.
Possible:
The event
could happen
at sometime
within 5 years.
If records are not produced
in accordance with the
Right to Information Act
2009 the public authority
may be subject to penalty.
The failure within the
process could potentially
affect community
confidence in the relevant
public authority.
Services would continue
but recordkeeping practices
would need to be reviewed
for cause of failure and
corrective measures
implemented.
Review recordkeeping
practices for
documenting and
reporting against
funding programs with
particular attention to
the public records kept
of the evaluation of
funding applications and
the dispersal of funds.
Ensure that regular
internal audits of
funding programs are
undertaken and that
records of audits are
kept for the appropriate
period.
Medium:
Potential likelihood to
threaten the running
or services of the
public authority and
can be managed by
implementing new or
modified
recordkeeping
controls.
Significant
