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Below is a sample matrix for assessing risks. It is based on the standard "5x5" approach. In the left column, the likelihood of an event occurring is listed and in the top row, the severity or consequence of that event occurring.
You then assess each step and hazard and determine:
Insignificant = no treatment required
Minor = 1st aid treatment is sufficient
Medium = Medical attention usually requiring hospitalisation. Eg stabs etc requiring stitches
Major = Loss of limb or body function
Catastrophic = Major loss of body function like paralysis or death