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Probability vs Consequence vs Risk <br />Go or No Go <br />Consequence of Failure <br />Probability <br />of Failure <br />Very low <br />Low <br />Moderate <br />Quite likely <br />High <br />Very high <br />Almost certain <br />1 2 3 4 5 6 <br />L LL L <br />L L L <br />L L <br />L <br />M <br />M M <br />M M <br />M <br />M <br />s <br />s <br />s <br />H <br />HH <br />H H H <br />HHHH <br />L is low risk, 11 is moderate risk, S is satisfactory risk, H is high risk <br />