Risk Assessment Severity and Likelihood Questionnaire Form
Please complete this assessment to evaluate the severity and likelihood of identified risks. Select the most appropriate options for each factor below.
Risk Title
*
Brief Description of the Risk
*
What is the likelihood of this risk occurring?
*
Rare
Unlikely
Possible
Likely
Almost Certain
How severe would the impact be if this risk materialized?
*
Insignificant
Minor
Moderate
Major
Catastrophic
Rate the overall risk level
*
Very Low
1
2
3
4
Very High
5
1 is Very Low, 5 is Very High
Which area(s) does this risk affect?
*
Operations
Finance
Compliance
Reputation
Other
How effective are existing controls for this risk?
*
No controls
Weak controls
Moderate controls
Strong controls
Please rate the urgency for mitigation
*
1
2
3
4
5
Likelihood and Severity Matrix
*
Rows
Likelihood
Severity
Very Low
1
2
Low
3
4
Medium
5
6
High
7
8
Very High
9
10
Recommended Mitigation Actions
*
Submit Assessment
Should be Empty: