Elements and Performance Criteria
- Establish risk management context
- Strategic and risk management context are identified in accordance with organisational requirements
- Stakeholders are identified and consulted to ensure their views, concerns and needs are taken into account in the risk management process
- Criteria for assessing aviation risk are determined in accordance with workplace standards
- Risk management criteria is determined to provide guidance on balancing risk, costs, benefits and opportunities
- Risk management criteria are monitored, reviewed and adjusted to ensure opportunities and current and emerging trends are reflected
- Plan for risk management
- Risks are assessed and documented in consultation with stakeholders, and risk level thresholds are established
- Risk controls are considered/modified and selected for acceptability
- Risk management plan and evaluation methodology is developed and communicated to stakeholders
- Monitor and evaluate aviation risk
- Internal and external risks to outcomes are monitored and remedial actions are identified, as required, and initiated
- Risk management plans are reviewed routinely, on occurrence of events of significant importance to the organisation and when required by regulatory practice
- Stakeholder feedback is obtained and considered in evaluation activity
- Recommendations for enhancing risk management plan are formulated and implemented
- Outcomes of evaluation are effectively communicated to stakeholders