Document ID: chunk:federal_register_of_legislation:F2017L00641:body:0:p44
Version: federal_register_of_legislation:F2017L00641
Segment Type: other
Provision Reference: 
Character Range: 132324–135621

be applied appropriately. The threat is then considered, taking into account:
    a)      knowledge of effectiveness of the mitigation/management measure
    b)      the coverage of the mitigation/management measure
    c)      the scope of the mitigation/management measure.
The risk matrix and ranking of threats was based on information in the peer reviewed literature, expert opinion and community consultation. Definitions used for the risk assessment are:
Likelihood of threat occurring is defined as follows:
       * Almost certain – expected to occur every year.
       * Likely – expected to occur at least once every five years.
       * Possible – might occur at some time.
       * Unlikely – such events are known to have occurred on a worldwide basis but only a few times.
      * Unknown – it is currently unknown how often the incident will occur.

Consequences of threats are defined as follows:
       * No long-term effect – no long-term effect on individuals or stock.
       * Minor – individuals are affected, but no effect at stock level.
       * Moderate – stock recovery stalls or reduces.
       * Major – stock declines.
      * Catastrophic – stock at risk of extinction.

Table 7. Risk assessment matrix framework
Likelihood of occurrence (relevant to species)  Consequences
No long-term effect                             Minor         Moderate  Major      Catastrophic
Almost certain                                  Low           Moderate  Very high  Very high     Very high
Likely                                          Low           Moderate  High       Very high     Very high
Possible                                        Low           Moderate  High       Very high     Very high
Unlikely                                        Low           Low       Moderate   High          Very high
Unknown                                         Low           Low       Moderate   High          Very high

Levels of risk and the associated priority for action are defined as follows:
       * Very High – immediate additional mitigation action required.
       * High – additional mitigation action and an adaptive management plan required, the precautionary principle should be applied.
       * Moderate – obtain additional information and, where multiple threats receive a moderate rating, develop additional mitigation action if required.
       * Low – monitor the threat occurrence and reassess threat level if likelihood or consequences change.
The outcomes of threat risk assessments for each stock are provided at Appendix B and summarised in Table 8. Table 8 provides a visual representation of those threats that pose the greatest threat across all stocks. It also provides insight into those threats about which little is known (e.g. the long-term impacts of noise).
The risk assessment process was used to determine the priority for conservation and/or management actions (Section 5). Priority actions have been developed for any threat for which the risk to any stock was deemed to be 'high' or 'very high'. For threats with an 'unknown' risk outcome, their status will be reassessed as part of the five year review of the plan.
Table 8. Summary of the threat risk assessment process undertaken for each genetic stock
 of marine