Business risk management
All businesses are exposed to inherent elements of risk, whether from a safety, health, environmental, financial or social aspect. Using proprietary tools we conduct a thorough Hazard Identification and Risk Assessment(HIRA) process in order to ascertain the specific hazards a particular business faces.
The associated risks are then analysed to gauge their potential severity, grouping the risks into categories of high, medium and low.
With an emphasis on the high and medium risks, control measures, using the hierarchy of controls (HOC), are put in place to mitigate these risks. The HOC seeks to first eliminate the hazard, substitute it, engineer it out and then control it via administrative interventions. As a final resort, the use of personal protective equipment is then considered.
Three types of risk assessments are needed for each and every type of business, namely baseline risk assessments, issue based risk assessments and continuous based risk assessments. The specific forms and amounts needed differ from business to business depending on the variety of tasks undertaken by the business and the environment the business operates in. A direct output of hiring Wittstock Risk Management Consultancy to assist with your business risk management is the development of these 3 types of risk assessments as needed by your business.
Not only do these three types of risk assessments help businesses become aware of potential risks and therefore eliminate or mitigate them but using these risk assessments as tools also helps the organisation:
1. to comply with the Occupational Health and Safety Act (OHSACT) section 13(a): – Without derogating from any specific duty imposed on an employer by this Act, every employer shall— (a) as far as is reasonably practicable, cause every employee to be made conversant with the hazards to his health and safety attached to any work which he has to perform, any article or substance which he has to produce, process, use, handle, store or transport and any plant or machinery which he is required or permitted to use, as well as with the precautionary measures which should be taken and observed with respect to those hazards;
2. to be used as a training tool for employees
3. to help management and or supervision plan out their tasks
All of the above contributes to a safer, more productive workflow and happier workplace which in turn leads to higher returns on investment.
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