State of Nebraska

Administrative Services State Accounting Division

Risk Assessment Roadmap Toolkit

Risk Assessment Form

 

1.    What is the specific activity?

 

 

 

 

 

2.    Does this activity fit the agency's mission, goals, objectives?

Yes No Describe:

 

 

 

 

 

3.    Identify the risks associated with the activity. What are the potential loss exposures? See Risk Identification and Evaluation (htm) for assistance.

 

 

Potential Loss Exposure

Severity

Likelihood

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.    Rate the severity of each potential loss exposure. How bad can it be? What could it cost? Enter your decisions into the table above.

  1. Insignificant
  2. Minor
  3. Moderate
  4. Major
  5. Critical

5.    What is the likelihood that each of these potential loss exposures will happen? Enter your decisions into the table above.

  1. Rare
  2. Unlikely
  3. Possible
  4. Likely
  5. Almost Certain

 

6.    Using the grid below, determine the risk rating for each potential loss exposure. Enter your decision into the table above.

 

SEVERITY:

Insignificant

Minor

Moderate

Major

Critical

LIKELIHOOD:

 

 

 

 

 

Almost Certain

M

H

E

E

E

Likely

M

M

H

E

E

Possible

L

M

H

E

E

Unlikely

L

L

M

H

E

Rare

L

L

M

H

H

 

Risk Rating:

 

7.    Consider and weigh the value of opportunities. What opportunities will be missed if the activity is not done? What is the upside and downside of these opportunities?

 

Rating

Value

Description (Opportunity)

1

Insignificant

Minor budgetary, funding, or resource gain; Little or no gain in public and/or client relations.

2

Minor

Low budgetary, funding, or resource gain; Some gain in public and/or client relations.

3

Moderate

Moderate budgetary, funding, or resource gain; Adequate public and/or client relations.

4

Major

Major budgetary, funding, or resource gain; Good public and/or client relations.

5

Critical

Huge budgetary, funding, or resource gain; Excellent public and/or client relations.

 

8.    Based upon your risk assessment and the risk rating for each potential loss exposure, what tools are available to mitigate or manage the risks? Consider these options:

 

       Immunities:

 

       Risk Control Measures - See Risk Control Methods and Measures (htm) for assistance.

 

Risk Control Measure

How can the measure be implemented?

Who will implement, follow-up and monitor?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rev 02/08