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Assessing and quantifying risk

We use a risk model which allows us to be consistent in the application of our standards and processes.

The model provides a framework in which decisions are made, linked to the likelihood and impact of issues occurring.

When considering likelihood, we consider how likely an issue is to occur in a relevant timeframe. When considering impact, we consider the level of impact on our education standards being met, on the delivery of proficiency standards, and in terms of risk to the pubic.

Quantifying risks gives us the ability to focus on the most important and high impact areas through our assessment, while ensuring standards are met at a threshold level.

Page updated on: 10/09/2021