LIKELIHOOD SCALE TABLE Note: If more than one description applies the highest rating is to be used. Overall Likelihood Rating Description [1]Probability of event occurring Historical Probability Almost Is almost certain to occur Greater than 75% Is almost certain to occur within the foreseeable future or within the programme or project lifecycle Certain Likely Is likely to occur 50% - 75% Is likely to occur within the foreseeable future or within the programme or project lifecycle Possible May occur 25% - 50% May occur within the foreseeable future or within the programme or project lifecycle Unlikely Is not likely to occur 10% - 25% Is not likely to occur within the foreseeable future or within the programme or project lifecycle Rare Will only occur in exceptional Less than 10% Will only occur in exceptional circumstances [1] Based on Financial Accountability Handbook, Queensland Treasury, July 2009