Risk Management Overview

Robert Andronaco Risk and GIS Development Manager Life Saving Victoria – Risk and Research Department

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

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.

Risk Management Process The managed systematic application of policies, procedures and practices specific to risk activities. These ‘activities’ are…..

Establish the Context

• Objectives • Stakeholders • Criteria • Define Key Elements

Communicate and Consult

• Who should be involved in the process? • What is to be communicated? • How will the message be communicated?

Risk Assessment - Identify the Risks

• What might happen? • How can it happen?

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)?

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?

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

Monitor and Review

• Have the Risks and Controls Changed?

• How do we keep them (Risks) under Control?