Elements and Performance Criteria
- Plan and prepare for risk control
- Assess and identify unacceptable risk
- Assess and determine consequence of an event
- Consider and determine likelihood of the event
- Identify criteria for the acceptability/unacceptability of the risk
- Assess risk against criteria to identify if it warrants ‘unacceptable risk’ status and action
- Effectively communicate and clarify the decision to others
- Identify, assess and implement risk treatments
- Identify and consider all possible risk treatment options
- Identify options by preliminary analysis and consideration of options
- Analyse options, including resource requirements
- Select most appropriate and effective course of action
- Plan and prepare the course of action in detail and acquire/obtain required resources and approval
- Implement the approved risk treatment
- Review risk management processes
- Complete records and reports