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Risk Assessment Form

Risk Assessment Form
Company Name: XYZ Technology Services Risk Assessor: Date Conducted: <TODAY'S DATE>
Risk Identification Risk Evaluation Risk Control
1a 1b 1c 2a 2b 2c 2d 2e 3a 3b 3c 3d 3e 3f
Business Unit Operational Risk Possible Outcome Existing Risk Control - If Any L* S* RPN* Remarks Additional Risk Control Measures L* S* RPN* Follow up by (name) & date Remarks
Accounting Accounting Software Fails Inability to process payroll Virus protection and hardrive backups 1 2 2 The virus protection should prevent the posibility of viral threats as long as systems stay updated. Backups will prevent the loss of data due to failure. NA 1 2 2 Billy Bob 7/23/20 NA
Accounting Failure to monitor Spending Budget becomes innacurate Budgeting software and staffing to monitor spending and budget. 1 1 1 The payroll and budgeting software is accurate as long as the employees on staff continue to monitor. NA 1 1 1 John Boy 8/1/20 NA
Accounting Late receiving tax documents Employees unable to file taxes All tax documents are now being delivered electronically through accounting software with failsafe, so the impact of software failing would be the only factor. 1 1 1 Accounting software is responsible for updating and availibility of tax documents. Therfore, this threat should be minimalized by the failsafes in place for the accounting software. NA 1 1 1 Sue Ellen 8/1/20 NA
Human Resources Corona Virus Job cuts and limited staffing We have incorporated a COVID19 prevention team 3 3 9 The prevention team is in place to support infected employees and help facilitate the temporary shut-down of the facility. Also to trace any contact from those employees. Mandatory testing of all Employees and isolation for anyone presenting with a temporature. 2 3 6 Bob Dole 6/29/20 Any locations with widespread contact should be temporarily halted.
Human Resources HR system goes down Inability to onboard new hire Virus protection and hardrive backups . We also have off-site DR with virtual instances being saved. 1 1 1 The HR systems are backedup both on-site and off-site at for disaster recovery. This should minimize the impact of this incident. NA 1 1 1 Jethro Bodean 8/1/20 NA
Human Resources Limited staffing overworked/unhappy employees We have a team of recruiters who constantly monitor staffing levels and put together job fairs when staffing levels get low. 1 1 1 The COVID19 has had more of an affect on staffing .Therefore, we have had to change the way we staff our sites. NA 1 1 1 Jed Clampett 8/1/20 NA
Information Technology Software fails due to corrupted PC Inability to process payroll Virus Protection Employee training, and firewalls 2 1 2 The biggest threat faced here is from uneducated employees. We are always rolling out compliance to keep employees educated and virus protection is the safety net. NA 2 1 2 Ellie Mae 8/1/20 NA
Information Technology Email virus infected servers Virus protection Employee training, and firewalls 2 1 2 The biggest threat faced here is from uneducated employees. We are always rolling out compliance to keep employees educated and virus protection is the safety net. NA 2 1 2 Mike Hall 8/1/20 NA
Information Technology Too much network traffic Slow network speeds We have throttled the network connections for employees to limit wasted bandwidth. 1 1 1 All employee computers are monitored and have limited access to outside sites. NA 1 1 1 Hugh Jedd 8/1/20 NA
Manufacturing Tariff Wars Drives up prices for international trade We have a procurement teams in charge of locating supplies 1 1 1 The procurement team takes our request for services and finds the best options. We also have many U.S. companies which can be used to prevent trade overseas. NA 1 1 1 Joe King 8/1/20 NA
Manufacturing Shrinking tallent pool Limited staffing options Talent scouts and recruiters 1 1 1 Talent scouts find the best employees from the possible selection NA 1 1 1 Carrie Oakey 8/1/20 NA
Manufacturing Robotic proliferation Job losses due to robotics taking over Research and development team 1 1 1 R&D works on utilizing robotics and electronic advancements to help the company grow. NA 1 1 1 Unda Dare 8/1/20 NA
Stakes and Marketing Corona Virus Causes stockholders to fear and prices fall COVID19 Prevention team 3 3 9 The prevention team is in place to support infected employees and help facilitate the temporary shut-down of the facility. Also to trace any contact from those employees. Mandatory testing of all Employees and isolation for anyone presenting with a temporature. 2 3 6 Onda Veranda 8/1/20 Any locations with widespread contact should be temporarily halted.
Stakes and Marketing Advertisement misquotes prices Honoring the advertisement causes loss in revenue Marketing team 1 1 1 Our marketing team checks and double checks all advertisements before they are released. NA 1 1 1 Hyman Howaru 8/1/20 NA
Stakes and Marketing Product recall Loss in production and revenue from recall Quality assurance specialist 1 3 3 Product recalls not only affect revenue but also reputation of the business which threatens the business for years. NA 1 3 3 Amanda Counton 8/1/20 NA
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NOTE: If more rows are needed, copy and paste the row immediately below this one and insert it at the end of your list.
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* L = Likelyhood
* S = Impact
* RPN (Risk Prioritization Number) = Likelihood x Impact

Sheet1

Instructions

Instructions for using the Risk Assessment form
Header Fill up all sections in the header of the RA form.
Column 1a Indicate the business unit
Column 1b Describe the operational risk.
Column 1c Identify the possible outcome if the risk occurs.
Column 2a Indicate risk control measures that are already in place to eliminate or minimize risks.
Column 2b L=Likelihood Likelihood of occurance of an accident, incident or ill health is defined as the probability that the said accident, incident or ill health will happen. Choose the likelihood from a value between 1 and 5. Consider the records of such events happening in the past when deciding on the likelihood. Refer to the Risk Matrix tab for the likelihood table
Column 2c I=Impact Impact is the degree or extent of injury or harm caused by the risks. Choose the most likely impact from a value between 1 and 5. Refer to the Risk Matrix tab for the impact table
Column 2d RPN=Risk Prioritization Number RPN=Impact X Likelihood
Column 2e Enter any remarks
Column 3a Additional risk control measures are required when the RPN indicated in column 2d exceeds 6. If the RPN is 6 or less, enter "NA" in the column
Column 3b S=Impact Impact may reduce upon introduction of additional control measures
Column 3c L=Likelihood Likelyhood may reduce upon introduction of additional control measures
Column 3d RPN=Risk Prioritisation Number RPN will reduce upon introduction of additional control measures
Column 3e Enter the name of the person appointed to oversee the implementation of the additional control measures. Enter the follow-up date.
Column 3f Enter any remarks

Risk Matrix

Risk Assessment Matrix
Risk Prioritization Number = Impact x Likelihood
Likelihood Table
Pt Likelihood level Likelihood of Occurrence / Exposure Criteria
5 Definate  Risks that are almost certain to manifest.
4 Likely  Risks that are highly likely to occur.
3 Occasional  Risks that are more typical, with about a 50/50 chance of taking place.
2 Seldom Risks that are relatively uncommon, but have a small chance of manifesting.
1 Unlikely  Extremely rare risks, with almost no probability of occurring.
Impact Table
Pt Impact level Impact Definition
5 Catastrophic  Risks with extreme negative consequences tor severely impact daily operations of the organization.
4 Critical  Risks with substantial negative consequences that will seriously impact the success of the organization or project.
3 Moderate  Risks that could potentially bring negative consequences, posing a moderate threat to the project or organization.
2 Minor  Risks that have a small potential for negative consequences, but will not significantly impact overall success.
1 Insignificant  Risks that bring no real negative consequences, or pose no significant threat to the organization or project.
Risk Level Determination - 5 x 5 Matrix
Impact
Catastrophic (5) Critical (4) Moderate (3) Minor (2) Insignificant (1)
LIKELIHOOD Definate (5) 25 Operation not permissible 20 Operation not permissible 15 High priority 10 Review at appropriate time 5 Risk acceptable
Likely (4) 20 Operation not permissible 16 Operation not permissible 12 High priority 8 Review at appropriate time 4 Risk acceptable
Occasional (3) 15 High priority 12 High priority 9 Review at appropriate time 6 Risk acceptable 3 Risk acceptable
Seldome (2) 10 Review at appropriate time 8 Review at appropriate time 6 Risk acceptable 4 Risk acceptable 2 Risk acceptable
Unlikely (1) 5 Risk acceptable 4 Risk acceptable 3 Risk acceptable 2 Risk acceptable 1 Risk acceptable
Review the risk assessment records every year or whenever there are changes in processes, work activities or upon any incident occurrence, whichever is earlier.
Action Table
Colour Score Risks Action
16 - 25 High Operation not Permissible Stop operation & review controls. If necessary abort operations.
12 - 15 Warning High priority remedial action Proceed with extreme caution. Implement additional (secondary) controls immediately. Review within 7 days. Emergency control measures shall be in place.
8 -10 Medium Take remedial action at appropriate time Proceed with care. Additional control is advised. Review shall be implemented within 30 days.
1 - 6 Warning Risk acceptable: Residual risk If possible, risk reduction should be further considered, particularly Impact. There are no imminent dangers. Frequent review shall be in place especially changes in procedures, materials or environment.