[BCM] [SHINE] [E3] [RAR] [T3] Risk Impact and Likelihood Assessment

Introduction

In this chapter, we conduct the Risk Impact and Likelihood Assessment (RAR) for SHINE Children and Youth Services.

The RAR is a critical process in the Business Continuity Management (BCM) methodology as it helps identify and assess potential risks that could impact the organisation.

By evaluating the likelihood and impact of various threats across multiple dimensions, we can prioritise risks and develop appropriate mitigation strategies.

This chapter focuses on the various risks that SHINE Children and Youth Services might face in its day-to-day operations and services.

These risks are analysed across the following impact areas: Finance, Operations, Legal & Regulatory, Reputation & Image, Social Responsibility, People, and Assets/IT Systems/Information.

The goal is to determine the risk level, likelihood, and the most vulnerable impact areas, ultimately guiding SHINE in crafting an effective continuity strategy.

Table R3: Risk Impact and Likelihood Assessment

The Risk Impact and Likelihood Assessment for SHINE Children and Youth Services provides a detailed view of potential threats that could disrupt its operations, impact its financial stability, or affect its reputation and image.

By evaluating each risk across various impact areas, this assessment highlights the areas most vulnerable to disruption and identifies the likelihood of each risk occurring.

With this information, SHINE can focus on strengthening its continuity measures and developing more effective response plans for the most critical threats, ensuring that they are prepared for any eventuality.

The Risk Rating and Risk Level help prioritize actions, allowing SHINE to allocate resources to the most pressing risks while maintaining operational resilience and minimizing potential disruptions.

The expected period of disruption varies based on the type and severity of the risk, with some incidents requiring immediate response (1-7 days), while others might have a longer recovery timeline (30-60 days). It is crucial for SHINE to continuously review and update its risk assessments to adapt to emerging threats and maintain a robust BCM framework.