Discuss about the Holistic Assessment Project for Occupational Safety and Health.
Risk management refers to the risk assessment along with prioritization of application various methods as well as strategies. This facilitates to maximize the resources and achieve the objectives of the project (Burke 2012). Effectual risk management procedure involves various steps, which can be involved in the method given below:
This above mentioned procedure and its features plays crucial role mainly in case of several complex projects. In addition to this, adoption of effective strategies is also extremely important for this multiple project. It has been opined by Glendon, Clarke and McKenna (2016) that, the evaluation facilitates to create value of projects mainly in case of the demonstrated risk. The whole procedure of dealing with large number of enterprise might be highly complex but this system is required to be transparent.
There are several risk management techniques that are applied in most of the enterprises. These techniques basically involves-
The above mentioned risk management techniques help the enterprises to avoid any kind of risk arising in the business (Chapman 2011). Another vital technique that the employees of the organization or multiple projects adopt is collecting the different views of the workers. However, this aid to analyze potential risk associated with it and identifies the main problem. Apart from this, controlling is another important aspect that the enterprises follow in today’s business world. The organizations or staffs of multiple projects now- a- days controls risks by adopting different methods, some of which are given below:
Some of the key strategies that can be adopted in the risk management are described below:
Risk control-Monitoring process plays a crucial role in controlling risk. This process involves identification of risk and controlling of system (Lam, 2014). In fact, the activities within the enterprise are usually measured through this inherent procedure.
Reduction of loss-This is one of the important aspect which facilitates in analyzing the enterprise. Although there might be few inconveniences faced by the company, the effect of loss in the performance of enterprise can be reduced.
Risk transfer-In this case, risk transfer refers to the strategies adopted by the company or workers of several projects for reducing risk after analyzing it. This is mainly to deal with risk transfer by law, written agreement and insurance policy. However, it is necessary for the enterprise to adopt this strategy for dealing with risk.
Avoidance-This is also considered as one of the vital aspect of risk management. Avoiding risk strategy helps to decrease intensity of risk by understanding the target of the enterprise, assessing future risk and managing the resources for maximizing profit.
Segregation of spread risk- Diversification of task is required to be decreased as well as channeled basically for betterment of various locations. Besides this, it also involves isolation of task with appropriate adoption of segregation. This strategy also involves utilization of some linkage, which act as cables in connection procedure of enterprise. According to Pritchard and PMP (2014), emerging technologies such as computer systems plays important role in separation of spread risk.
There are various tools that the enterprise or workers of several projects uses for managing risk within the business. The risk management tools or methods are one of the vital aspects that mainly deal with uncertainty. Some of these risk management tools are explained below:
Threat analysis-This tool mainly highlights on the analysis of threats that the business faces and the prioritization impact on the enterprise. The tool helps to analyze uncertainty of the situation which the enterprise might face in the competitive business environment.
Portfolio as well as investment of risk analysis-The investment of the organization should be in accordance with the return as expected by its management. However, the enterprise should analyse the investment and portfolio risk in order to avoid any kind of difficult situation within the business or projects.
Strategic capability as well as risk analysis- This is another key aspect of risk management tool, which deals with analysis of risk through assessment of different capabilities of an enterprise. This tool involves analysis as well as understanding of aims, objectives and targets of the enterprise.
Different programs relating to risk management-Recent facts reflect that the enterprise in today’s world are implementing various programs relating to the risk management. These programs mainly deal with the assessment of risk uncertainty, evaluation of cost and also analysis of other risk which the enterprise focuses on while completing any project. However, it is necessary for a company to adopt the risk management program based on the external as well as internal environment of the business.
Some of the key aspects of risk management application involve-
Identification of risk based on scenario-The scenario of an enterprise mainly involves utilization of ideas as well as adoption of skills, which in turn aids the organization to manage risk. Furthermore, this scenario aids the organization to implement appropriate application of knowledge on the basis of specific requirement.
Risk identification based on objective- The main objective of an enterprise is to integrate appropriate method for identifying risk. In fact, the objectives as well as target of the enterprise frames the requirements specific to the enterprise.
General risk check-The enterprise can check the common risk which is mainly found in most of the risk. However, this aids the company to identify the common issue as well as risk and hence helps to take prevention for avoiding the risk.
Assessment of the problems regarding OHS involves proper understanding of risk as well as uncertainty. For instance, in some of the enterprise such as mining , the problems involves ill effects of the enterprise. In such case, the employees have wretched the condition of the work. Moreover, adoption of strategies also involves environmental condition affecting the workers health such as landslides in mining area (Lundgren and McMakin 2013). Thus, risk management facilitates the company to assess the risk that they might face while dealing with strategies of the health measure. The enterprise is thereby required to adopt strategies for dealing with risk of natural calamities that affects the operations of business.
Controlling of issues mainly includes surveillance procedure. The method of surveillance deals with analysis of technique and monitoring procedure. The main responsibility of the enterprise is to assess the method of controlling risk. However, the ill impact of health as well as safety is also assessed in the enterprise through this method (Friend and Kohn 2014). Risk of OHS adoption involves the fact that issues occurs while analyzing OHS. If the organization overlooks risk avoidance measure then it might impact the monitoring procedure of an enterprise.
The product implementation is basically the chemical storage containers which create issue within enterprise regarding proper implementation. The product development phase creates problems regarding the while process of manufacturing products. For instance, chemicals are usually applied as resources in containers, so that it acts as safeguarding risk and safety issues generally in tough situation (Hughes and Ferrett 2012). Few act regarding OHS (occupational Health and Safety) Australia mainly involves- accident compensation Act 1996, employees compensation Act 1958. Furthermore, the regulations involve dangerous product regulations 2011, health as well as safety regulations Act 2007, Dangerous product regulation 2005 and other legislative procedure helps to support employees of the enterprise to get all kinds of support of system (Hopkin 2017).
References
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Chapman, R.J., 2011. Simple tools and techniques for enterprise risk management (Vol. 553). John Wiley & Sons.
Friend, M.A. and Kohn, J.P., 2014. Fundamentals of occupational safety and health. Bernan Press.
Glendon, A.I., Clarke, S. and McKenna, E., 2016. Human safety and risk management. Crc Press.
Hopkin, P., 2017. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.
Hughes, P. and Ferrett, E., 2012. Introduction to health and safety in construction. Routledge.
Lam, J., 2014. Enterprise risk management: from incentives to controls. John Wiley & Sons.
Loosemore, M., Raftery, J., Reilly, C. and Higgon, D., 2012. Risk management in projects. Routledge.
Lundgren, R.E. and McMakin, A.H., 2013. Risk communication: A handbook for communicating environmental, safety, and health risks. John Wiley & Sons.
Pritchard, C.L. and PMP, P.R., 2014. Risk management: concepts and guidance. CRC Press.
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