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.