Risk Assessment Strategy - What you need to know

Risk Assessment Strategy - What you need to know

        The benefits of risk management have a real influence on the future success of your business. Discover the key risk assessment elements you need to know.

The benefits of risk management have a real influence on the future success of your business.  So it’s essential that you carry out a risk assessment that is detailed and comprehensive.

Take a walk around your workplace and do a visual inspection and list what tasks or hazards will need to be assessed.  Be mindful of staff capabilities and knowledge and any emerging risks.

Take a look over the list of hazards identified for your workplace.  For each of these, think about the consequences – who would be harmed and how?  Now, what safety measures and controls are already in place, who carries them out and when.  How robust is the control?

The aim here is to prioritise which risks need to be actioned first.  Using a matrix each risk is classified depending on two factors – the likelihood of its occurrence and the severity of the consequences.  Risks with a high likelihood of occurring and or a high severity of consequence should be addressed immediately.

Based on your analysis, work with relevant staff members to redesign the job or task, replace material, machinery or processes, reorganise the workspace or implement PPE requirements to eliminate or control each identified risk.

Review controls
A risk assessment is never static.  To remain relevant, the assessment must always be reviewed.  Initially, this will help you identify the effectiveness of your initial assessment and any gaps that need to be addressed.  But going forward regular reviews are crucial, to take into consideration new factors like updated equipment, processes or new employees.

The final part of a risk assessment is communication.  All staff need to have a comprehensive understanding of the workplace in order to ensure the prevention and mitigation of the risks and hazards therein.

Conducting a comprehensive risk assessment is a significant responsibility and one that calls for practical experience and legislative knowledge.

Contact our Security Risk Management Consultants for help with your risk assessment.
Contact us today. For further information please Call 1300 566 379 or Email