In basic terms, risk management refers to the practice of identifying potential risks in advance, analysing them and taking precautionary steps to reduce or curb – mitigate – the risk.
First up, let’s introduce you to risk management. A hazard is something that can cause harm, e.g. electricity, chemicals, dangerous surf conditions at a beach, working up a ladder, noise, a bully at work, stress, etc. A risk is the chance, high or low, that any hazard will actually cause somebody harm. For example, if you’re a poor swimmer and you swim in a rip (the hazard), there is a good chance you will get into trouble and may drown (the risk.)
Our team can assist with the creation of your risk policy and an independent risk profile. The intent of a risk profile is to identify key risks, existing controls and their effectiveness. Working with you, we’ll then recommend further opportunities to find solutions that provides you and your stakeholders with assurance that risk is being reduced to as low as reasonably practicable using international best practice risk methodology. The process can be applied to a wide range of applications; this can include organisations, operations, activities and events.
Our inhouse experts include Certified Practicing Risk Managers (CPRM) and our work is aligned with the various Australian, New Zealand and international Standards relating to Risk Management.