Skip to main content

Risk Level Definitions

Risk is defined as the possibility of an event occurring that will have an impact on the achievement of objectives.  Risk is measured in terms of impact and likelihood.  Based on a potential event’s impact and likelihood, we have defined the associated risk level as follows:

Risk level definitions

 

Impact – the effect or influence of one person, thing, or action, on another

  • Minor - Minimal exposure to the University and/or little to no impact to operations.
  • Moderate - Significant exposure to the University and/or operations are ineffective.
  • Major - Unacceptable exposure to the University and/or substantial threat to the achievement of strategic/operational objectives.

Likelihood – the state or fact of something’s being likely; probability

  • Unlikely - Could occur, but probably not.
  • Occasional - Occurs some of the time.
  • Frequent - Expected to occur regularly.