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ATTACHMENT 28

6.  Risk Factors:  Risk factors are what cause or contribute to the occurrence of the hazard and make the hazard more likely to result in the selected consequence(s).  They will be used to help determine the “Likelihood” value in the Risk Assessment step.  In the Implementation step, the certificate management team will want to create action items to ensure that the certificate holder has addressed the risk factors.

Example of Risk Factors:  Training seems to be the factor that is most contributing to the occurrence of this hazard.  The employees do not seem to be completely aware of the maintenance program procedures regarding tool calibration and storage.

7.   Choose Likelihood Value:  The likelihood value answers the question about how likely it is that the hazard will result in the consequences you identified.  It is used with a severity value to provide an overall risk assessment value.

Frequent-Continuously experienced

Probable -Will occur often

Occasional -Will occur several times

Remote -Unlikely, but can reasonably be expected to occur

8.  Choose Severity Value:  The severity value reflects how serious the consequence(s) of the risk occurring would be.  It is used with likelihood to provide an overall risk assessment value.  Use the consequence description you developed to estimate the severity of the risk associated with the hazard.

High - Loss (or breakdown) of an entire system or sub-system; accident, or serious incident

Medium - Partial breakdown of a repair stations system, violation of regulations or company rules

Low  - Poor repair station performance or disruption to the repair station

9.

Overall Risk Assessment from Risk Assessment Matrix:  Select the overall risk value based on the likelihood and severity values chosen in the previous section.  Thus, the choice of the risk value in the matrix of likelihood and severity is automatic.  The overall risk assessment will be used to guide determinations about the timeframe for beginning the action plan.  Generally, lower overall risks will be addressed after higher-level risks.

SEVERITY

High

Medium

Low

Frequent

Red

Red

Yellow

Probable

Red

Yellow

Yellow

Occasional

Yellow

Yellow

Blue

Remote

Yellow

Blue

Blue

Section 3: Decisionmaking

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