Risk Priority and Profile Charts

The following charts can be used as tools to help you in the risk management process. The High/Low Frequency and Severity Chart can be used to determine if you are participating in a High Risk or Low Risk Activity by determining if the chance of injury is high or low in frequency, and if when it does happen is it likely to be a severe or minor injury. Once you have determined the level of risk associated with the activity you can use the Profile Chart to determine what risk management strategy you should use to address the risk.

Although there is no one strategy that will address all risks the following strategies can be used together to help reduce and control the risks associated with an activity or event.

Avoidance - risk of injury is too high and cannot be reduced or controlled
Reduce - can take steps to reduce the chance of injury -best for those risks that are easily recognized and measured - chance of loss/no loss
Transfer - transfer the risk to another party i.e. insurance, organization
Accept - risk of injury is low - do this with basic risk management strategies in place (informed

Risk Severity and Frequency

Risk Profile Priority Strategy
High Severity/High Frequency High - High probability of loss occuring, it is foreseeable and you have little control over it Avoidance
Transfer
High-Severity/Low Frequency High-Medium - Risk is readily recognized and measured - probability of a loss or no loss. You can take steps to control or reduce the risk - however if the loss does occur it is typically severe Avoidance
Reduction
Transfer
Low Severity/High Frequency Medium - Risk is readily recognized and measured - probability of a loss or no loss. You can take steps to control or reduce the risk Reduction
Low Severity/Low Frequency Low - Risk exists by low probability of loss Accept (with basic RM Techniques in place, i.e. Informed Consent)