All DAISI projects must undergo vigorous risk assessment weighing up the benefits against the risks of physical, financial and reputational harm.
1. DAISI’s risk appraisal tool is a risk assessment framework/matrix that must be applied to all DAISI projects it is directly involved in or activities engaged in by downstream partners or sub contractors involved in projects DAISI is funding.
2. This assessment tool basically looks at risk as a function of likelihood, as well as the severity or consequences of such risks (see table below).
Risk Rating Descriptors and Mitigating Action Requirements.
3. The matrix and its accompanying definitions and escalation protocols are designed to provide DAISI members and volunteers with guidance about what to do (monitor or treat the risk) and where to escalate the risk (i.e. to line manager or CEO, DAISI Executive, or higher including government regulatory authorities).
Consequence Rating: Evaluation Criteria
4. The risk matrix is the endorsed framework for assessing risks at all levels for DAISI activities (strategic, operational and day-to-day) and should be used to determine an appropriate course of action.
5. All DAISI projects must as a minimum be risk assessed using this framework annually, and immediately in the event of a single major or catastrophic risk event occurring.