Can You Risk It? - Insurance Commission of Western Australia

5. EDIT CONSEQUENCE CATEGORIES AND LIKELIHOOD TABLESThis is the fi rst step in the risk management process that you need to complete before you start toidentify risks. When you click on Edit Consequence Categories and Likelihood Tablesbutton, you have the choice of changing the Definitions of the Qualititative Measures ofConsequences and Frequency of Likelihood. Examples are displayed below.TO CHANGE CONSEQUENCE DEFINITIONIf you wish to change Consequence, click on the Consequence Tab located at the top left hand corner of theform. This will display the sample qualitative measurement criteria set for Consequence Category. Please select aConsequence Category from the drop down list and you may change it to meet your group’s measurement criteria.For example, we have selected Financial Impact in the Consequence Category box and modifi cations maybe made in the Definition box as displayed below. You may wish to change the values based on your agency’sbudget. Once you have made your modifi cations, please click on the Save button. When you click on the Save buttona message box will ask you to click OK if you wish to save the changes. If you click no another message box will bedisplayed asking you whether you wish to clear the form.27 Can You Risk It? An Introduction to Risk Management for Community Organisations