WESTERN SYDNEY UNIVERSITY RISK ASSESSMENT WORKSHEET (A4 print)

Project: Select Rating between 1 - 5 where: 1= Very Low, 5= Very high

Facilitator: Overall risk level is a result of "Likelihood x Impact"(auto-calculated; no need to fill in)
Identifier: School/ Unit:
A) RISK ASSESSMENT
Reference Identification Control effectiveness rating (Key 2) Mitigation Control/ Monitor

Overal residual risk rating (Auto calculated

Risk rating (Key 1)
Risk Category

Risk Owner
Action due
effectiveness
Overall Risk
Raised

Mitigation Actions

date
Date

Likelihood
ID Description of Risk (D) Impact to the University (E) Controls in place (I) Further Actions (L)
Tracking Strategy (M)

Control
Impact

by system)
Brief Adverse effects or events that affect Possible impact/ consequence if the If there are any strategies or controls Options to manage/ mitigate How the risks and the corresponding

Actions completion

Who implements
auto-calculated
Guide - the achievement of the event occurs: in $ or some other already in place for the risks identified if the existing mitigation actions can be monitored

the actions
lines: organisation's objectives/ potential qualitative measures e.g. university corresponding risks controls are considered
rating rating rating

date
opportunity that may add value to image/ staff morale etc. 1-5 1-5 1-5 inadequate or ineffective e.g. to
the organisation's operations avoid/ transfer/ control the
residual risks that are intolerable

0
 Reference Identification Control effectiveness rating (Key 2) Mitigation Control/ Monitor

Overal residual risk rating (Auto calculated

Risk rating (Key 1)

Risk Category

Risk Owner
Action due
effectiveness
Overall Risk
Raised
Mitigation Actions

date
Date

Likelihood
ID Description of Risk (D) Impact to the University (E) Controls in place (I) Further Actions (L)
Tracking Strategy (M)

Control
Impact

by system)
KEYS FOR RATING SCALE:

Key 1: RISK RATING SCALE (The risk level for the issues raised in (D) will be assessed without taking into account existing controls e.g.. management strategies, checks & balances, policies & procedures etc.).
Overall Rating Likelihood Impact / Consequence
(L) X (I) (L) (I)
Critical (5) Almost certain (5) Catastrophic • Potential financial impact of $10m ($1m)(a) or more • Loss of public confidence in the University
• Detrimental impact on operations or major projects • Contractual, legislative or regulatory non-compliance with certain litigation,
• Sustained loss in reputation , • Life threatening prosecution or penalties
> 20 • Sustained impact on services or quality
High (4) Likely (4) Major • Potential financial impact of $5m ($500,000) or more • Serious impact on services or quality
• Major impact on operations or major projects • Probable loss of public confidence in the University
• Serious loss in reputation , • Extensive injuries • Contractual, legislative or regulatory non-compliance with probable litigation,
prosecution or penalties
≥ 13 & ≤ 19
Moderate (3) Possible (3) Moderate • Potential financial impact of $2m ($200,000) or more • Moderate decline in services or quality
• Moderate impact on operations or major projects • Possible loss of public confidence in the University
• Short-term loss in reputation , • Minor injuries • Contractual, legislative or regulatory non-compliance with potential for litigation,
prosecution or penalties
≥ 5 & ≤ 12
Low (2) Unlikely (2) Minor • Potential financial impact of less than $1m ($100,000) • Minor impact on services or quality
• Minor impact on operations or major projects • No loss of public confidence in the University
• No loss in reputation , • Potential for injury • Contractual, legislative or regulatory non-compliance but unlikely to result in litigation,
prosecution or penalties
≥3&≤4
Very Low (1) Rare (1) Insignificant • Potential financial impact less than $1m (< $100,000) •
Impact can be absorbed by daily business running costs
≤2
Risk Category (drop down list)
Key 2: EVALUATION ON CONTROL EFFECTIVENESS (including assessment of control design and implementation) Academic (Course quality) Legal

Assessment scale – Effectiveness of existing controls (in Column I) for mitigating the risk identified Academic (Program delivery) Legislation

1 Robust Have significant impact on risk and achieving organisation objectives Academic (Research) Organisational

2 Effective Have a direct impact on risk Behaviour Political

3 Adequate but marginal Relevant to address corresponding risk Environmental Reputation

4 Need improvement Need substantial revision to improve effectiveness Financial Technology

5 Deficient/ineffective (b) No impact on risk mitigation Infrastructure Others

International Ref. to Risk Category column ( C )
<notes> (a) Figure in bracket representing the financial impact to individual business unit/ operation/ project
(b) Controls are excessive, impose more damages than benefits and/or reduce efficiency in operations or likelihood of achieving objectives
Course quality
Program delivery
Research
Behaviour
Environmental
Financial
Infrastructure
International
Legal
Legislation
Organisational
Political
Reputation
Technology
Others