The following range of variables is subject to site specific operations, but is not limited to the following details. Site procedures, regulations and occupational health and safety and other relevant legislation apply to all elements and performance.
Risk is the chance of something happening that will have an impact upon objectives. It is measured in terms of consequence and likelihood.
Risk management is the culture, processes and structure that are directed towards the effective management of potential opportunities and adverse risk.
Risk management may be applied to:
statutory compliance
occupational health and safety
environment
quality
property security
business risks, such as:
credit management
capital expenditure
sales and marketing
finance and accounting.
Relevant legislation and codes of practice may include:
award and enterprise agreements and relevant industrial instruments
relevant legislation, regulations and permits from all levels of government that affects business operations, such as:
occupational health and safety
environmental
development consents
trade practices and consumer protection
equal opportunity
industrial relations
anti-discrimination
common law duty of care
relevant industry codes of practice.
The policy is the statement of over all intent and direction of the organisation in respect of the specific area of managerial responsibility.
Organisation's Risk Management policies and procedures may include:
risk management policy
site procedures and work instructions for hazard identification
site procedures and work instructions for risk assessment, selection and implementing of risk control measures
site incident (accident) investigation requirements
site risk audits and investigations requirements
site consultative arrangements for employees in work area
site hazard report procedures
site operating procedures and instructions
site emergency and evacuation procedures
site purchasing policies and procedures
site plant and equipment maintenance and use instructions
site hazardous substances use and storage procedures and work instructions
site dangerous goods transport and storage procedures and work instructions
site occupational health and safety arrangements for on site contractors, visitors and members of the public
site first aid provisions/medical practitioner contacts and attention instructions
site access procedures and instructions.
Hazard is a source of potential harm or a situation with a potential to cause loss.
Risk identification is the process of determining what can happen, why and how.
Risk assessment is the overall process of risk analysis and risk evaluation.
Risk analysis is a systematic use of available information to determine how often specified events may occur and the magnitude of their likely consequences.
Risk evaluation is the process used to determine risk management priorities by comparing the level of risk against predetermined standards, target risk levels or other criteria.
Risk treatment is the selection and implementation of appropriate options for dealing with risk.
Risk management processes are the systematic application of management policies, procedures and practices to the task of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk.
Consultation would typically include:
regulatory authorities
tenderers
project managers
contractors
employees
community
customers
suppliers.
Monitor is to check, supervise, observe critically, or record the progress of an activity, action or system on a regular basis in order to identify change.
Identifying hazards and assessing risk may occur through activities such as:
workplace inspections in area of responsibility
consulting work team members
housekeeping
risk audits and review of audit reports
daily informal employee consultation and regular formal employee meetings
checking equipment before and during work
review of health, safety, environmental, quality and other risk related records.
Organisational consultation procedures may include:
formal and informal meetings
health and safety committees
other committees, such as, planning and purchasing
involvement of employees in management and planning meetings
early response to employee suggestions, requests, reports and concerns put forward to management
counselling/disciplinary processes.
Procedures for controlling risk may include:
removing the cause of the risk at its source (eliminating the hazard)
selecting control measures in accordance with the hierarchy (i.e. work through the hierarchy from most effective to least effective)
job/process/workplace re-design
consultation with employees and their representatives.
Risk management records may include:
audit and inspection reports
hazard registers
risk analysis records
risk treatment reports
minutes of meetings (risk management, occupational health and safety, environmental etc)
induction, instruction, training and assessment
manufacturer's and supplier's information
dangerous goods and hazardous substances registers
plant and equipment maintenance and testing reports
workers compensation and rehabilitation records
first aid/medical records
major incident and emergency response instructions
emergency contact lists
financial records
contract documents.