INDUSTRY SOLUTIONS

Assessing and Managing Risk

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Assessing and managing risk is a crucial component of any business.  A risk management culture where employees and stakeholders are aware of the importance of monitoring and managing risk across business areas such as Health and Safety, Environment and Community, People, Assets, Reputation, Supply Chain, Intellectual Property, and Finance is vital. The benefit of implementing a Risk Management System is that organisations see both the positive opportunities and negative consequences associated with risk, and allows for more informed, and thus more effective, decision-making, namely in the allocation of resources thus improving an organisation’s governance and performance1.

Utilising the ‘31000 series – Risk Management’ from the International Organisation for Standardisation (ISO)2 Melius Consulting supports businesses by developing risk management systems and deploying frameworks. We facilitate risk management workshops to identify, assess and measure, mitigate, and treat, report, monitor and govern the risk. We have completed risk assessments and improvement plans in mining, construction, and remote drilling operations in several international locations.

REFERENCES:
  1. Tranchard S. Risk management: The new ISO 31000 keeps risk management simple. Governance Directions 2018;70(4):180-82.
  2. Silva Rampini GH, Takia H, Berssaneti FT. Critical Success Factors of Risk Management with the Advent of ISO 31000 2018 – Descriptive and Content Analyses. Procedia manufacturing 2019;39:894-903. doi: 10.1016/j.promfg.2020.01.400