Concept of Risk Management
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Transcript of Concept of Risk Management
Slide 18 April 2023
Hazard Identification methodology
Slide 28 April 2023
Organization’s methodology
Be defined with respect to its scope, nature and timing to ensure it is proactive rather than reactive
Provide for the classification of risks and identification of those that are to be eliminated or controlled
Be consistent with operating experience and the capabilities of risk control measures employed
Provide input into the determination of facility requirements, identification of training needs and/or development of operation controls
Provide for the monitoring of required actions to ensure both the effectiveness and timeliness of their implementation
Slide 38 April 2023
Concept of Risk Management
“The essence of risk management is to avoid high
risks, manage medium risks, and live with low risks.”
“The essence of risk management is to avoid high
risks, manage medium risks, and live with low risks.”
Slide 48 April 2023
IDENTIFY HAZARD
PREPARE PROCEDURE
ANALYSE RISK
Occurrences Severity
Moderate riskHigh riskExtreme risk
Establish significant risks - Prepare risk reduction program
Planning for Risk AnalysisPlanning for Risk Analysis
Legislation Control
Low risk
Slide 58 April 2023
TERMINATE
Avoid or eliminate the risk
TREAT
SHEQManagement
System
TOLERATE
Acceptable level of risk
TRANSFER
InsuranceSubcontracting
Establish Significant risks - Prepare risk reduction program
IMPLEMENT SHE PROGRAMME
MONITOR [Measure, Evaluate, Commend or Correct]
Planning for Risk AnalysisPlanning for Risk Analysis
Slide 68 April 2023
Risk Assessment
Sl. No.
Activity Concern D/I/N/
ABN
OHSAS Present Control
Additional Control Measures
What? How? When? Who?
Residual Risk
Lik
elih
ood
Con
trol
Leg
isla
tion
*
Sev
erit
y
Cri
tica
lity
* Overriding factor
Slide 78 April 2023
Likelihood:
1) Likelihood of undesired occurrence of the Environmental aspect - EMS
2) Likelihood of undesired event occurring - OHSAS
5 Will happen daily to weekly
4 Will happen many times in a month
3 Will happen once in every week
2 Will happen once in every month
1 Unlikely
Risk of Systems
Slide 88 April 2023
Control:
Undesired occurrence of Environmental aspect (EMS) or Undesired event (OHSAS).
1 Absence or not effective controls
3 Mechanism in place but not reliable
5 Available and effective
Risk of Systems
Slide 98 April 2023
Legislation:
Compliance with legislation or the activity/aspect/ risk not covered under legislation
5 Not meeting legislation
1 In compliance with legislation or
aspect not covered under legislation
Risk of Systems
Slide 108 April 2023
Severity:
1) Impact against undesired occurrence of the Environmental aspect – EMS
2) Impact against undesired event occurring - OHSAS
Impact Criteria
Financial Production Environment Injury
> Rs. 5 Stoppage more than 24 hrs
Permanent Customer Loss
Permanent ecological damage
Multiple Fatality 5
> Rs. 3 M Stoppage < 24 hrs. Serious Customer
Complaints
Major ecological damage Single Fatality Disability
4
> Rs. 2 M Stoppage for half day
Few Customer Complaint
Kills Flaura fauna or Resource Conservation
Serious Injury 3
< Rs. 1 M Stoppage for few hours
Single Customer Complaint
Causes discomfort or acid or causes nuisance
Off Site Injury 2
< Rs. 0.5 M Stoppage Less than a hour
No Customer complaints
Slight Impact Minor Injury First Aid
1
Risk of Systems
Slide 118 April 2023
DETERMINATION AND EVALUATION OF CRITICALITYDETERMINATION AND EVALUATION OF CRITICALITY
Ranking Criteria = L x C x Lx R x I
Select the ones with the highest score
OR
Define a Cut off value
Slide 128 April 2023
Sl. No.
Activity Concern D/I/N/
ABN
EMS/OHS
Present Control
Additional Control
Measures
What? How? When? Who?
Residual Risk
1. Operation of DG Set
Emission of Sulphur dioxide
E D/N OCP related to operation in place
3 2 5 3 180 Change of fuel (ULHSD)
Increase in Stack Height
36
Noise Generation
S D/N PPE in place but not complied upon.
2 2 5 3 120 Acoustic Enclosure of DG room. Training on PPE
24
Example: Integration SHE Risk of Systems
Lik
elih
ood
Con
trol
Leg
isla
tion
Sev
erit
y
Cri
tica
lity
Legislation not complied under any system requirement will have
impact other systemCut of Score - 120
Slide 138 April 2023
Procedure should include
Hazard identification and risk assessment methodology to be used
Criteria for identification and evaluation of processes, activities
Assignment of competent persons to execute the procedure
Frequency of risk identification and assessment activities
Involvement of employees in the process, activities, etc
Application of regulatory or other requirements, if applicable
Slide 148 April 2023
Risk assessment and risk control
Identify all activities; past, current and future planned, direct and indirect, under normal, abnormal and emergency situations
Identify all hazards involved within the activity, including those arising from the work place environment
Assess the risks involved in the above and put in place appropriate control measures
Consider significant risks when setting objective/targets
Provide feedback about control measures for significant risks to monitoring and auditing programmes