Risk Management
As defined by AS/NZS ISO 31000:2009:
- Risk: “effect of uncertainty on objectives”
- Risk Management: “coordinated activities to direct and control an organisation with regard to risk”
Risk management is a well defined process that is applicable to all
organisations whether driven by legislation, good business practice or simply
recognised as a strategy to ensure that you “know what you don’t know”. Working
systematically to identify and select the most appropriate management controls
can ensure effective planning and allocation of available resources to assist in
the avoidance or mitigation of a possible ‘loss’ event or situation. It should
also be recognised that risk management can also be a pathway to identifying
opportunity.
From strategic planning through to workplace implementation, ASTRA can
provide the full range of support and expertise to enable and apply the risk
management process. Our support extends, but is not limited to:
- Facilitation of
- Hazard Identification Study (HAZID);
- Workplace Risk Assessment and Control (WRAC);
- Qualitative Risk Model (QRM);
- Hazard Operability Study (HAZOP);
- Failure Modes and Effect Analysis (FMEA);
- Fault Tree Analysis (FTA);
- Event Tree Analysis (ETA);
- Barrier Analysis;
- Bowtie applications; and
- Layers of Protection Analysis (LOPA).
- System development;
- Development of Risk Management Plans, Policies and procedural documentation;
- Compliance and effectiveness audit; and
- Training.