risk management overview - lsvpresentation objectives • provide snapshot overview of risk...
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Risk Management Overview
Robert Andronaco Risk and GIS Development Manager Life Saving Victoria – Risk and Research Department
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Presentation Objectives • Provide Snapshot Overview of Risk Management
as Per AS/NZS ISO 31000:2009 • Examine rationale behind adopting a Risk
Management Process • Provide some application practicabilities of Risk
Management specific to Aquatic Recreation Facilities
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Risks versus Hazards Risk = Effect of uncertainty on objectives Hazard = potential source of harm Objective = A thing aimed at or sought; a goal. As such;
a) If the objective is to have zero drowning events at your pool,
b) the water is a likely hazard, c) and the risk is the probability (regardless of how
likely or unlikely) of a drowning event at your pool.
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Risk Management Process The managed systematic application of policies, procedures and practices specific to risk activities. These ‘activities’ are…..
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Establish the Context
• Objectives • Stakeholders • Criteria • Define Key Elements
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Communicate and Consult
• Who should be involved in the process? • What is to be communicated? • How will the message be communicated?
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Risk Assessment - Identify the Risks
• What might happen? • How can it happen?
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Risk Assessment - Analyse the Risks • Review the existing Controls. • What is the likelihood of a specific Event? • What is the Consequence of an Event? • What is the level of Risk i.e. (Likelihood *
Consequence)?
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Evaluate the Risks
• What are the most important things to address?
• In what order should the risks be dealt with?
i. Will it help meet the Objective/s? ii. What are the legal, regulatory requirements?
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Treat the Risks • Identify Options Avoid Increase Remove the Risk Source Change the Likelihood Change the Consequence Share the risk Retain
• Select the best Option • Develop Risk Treatment Plans • Implement
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Monitor and Review
• Have the Risks and Controls Changed?
• How do we keep them (Risks) under Control?