9. Risk scores explained
Risk score definitions
4 - Major
Critical impact on the achievement of objectives and overall performance.
Critical opportunity to innovate/improve performance missed/wasted.
Huge impact on costs and/or reputation.
Very difficult to recover from and possibly requiring a long-term recovery period.
3 - Serious
Major impact on costs and objectives.
Substantial opportunity to innovate/improve performance missed/wasted.
Serious impact on output and/or quality and reputation.
Medium to long term effect and expensive to recover from.
2 - Significant
Waste of time and resources.
Good opportunity to innovate/improve performance missed/wasted.
Moderate impact on operational efficiency, output and quality.
Medium term effect which may be expensive to recover from.
1 - Minor
Minor loss, delay, inconvenience or interruption.
Opportunity to innovate/make minor improvements to performance missed/wasted.
Short to medium term effect.