How to use industry standards and code of practise in risk management?

Question

How do I make use of industry standards and code of practise in conducting my risk management duty?

Answer 1

Risk Management-Unbleivably a vast subject to deal, in every industry and business, well it's clear in personal life

well if we are ALWAYS talking about a subject in every duty about CALCUALTED Risk and it's never to the off set as it personally your decision will always be something which we say possible with the timelines and achievable, realistic and acceptable.

Code of Practice at every interval, on clarifying, redirecting, changing as per flexi will help code or provision from conducting regular update code of practise in conducting risk management function effectively

Have a nice day!!!

Answer 2

Look where you are not following or bettering Industry Standards and Codes of Practice and examine these areas most closely as it is here most probably that your greatest risks lie. Bear in mind some aspects of standards and codes may be concerned with functionality and some with risk.

Edited Comment: Understand your industry and as far as possible the background to your industry standards. There is incentive to fully understand and manage a risk of going outwith standards when the economic incentives are very large but perhaps not otherwise. Understand your company's position within a particular industry - is it typical in its operations? - is it a market leader with plants of disproportionate economic importance? - what is the quality of your company's design, operating and maintenance teams?

Answer 3

Very hard to do straight from the standards. Most nations have industry bodies that have worked out guides for this. Risk management begins with recognising a risk and sizing it up with respect to likely hood, severity of injury or consequence. Then risk assessing the solution proposed etc as it may have it's own risks. Get in touch with an industry body. in Australia one of ours is called AIG Australian Industry Group. Don't get in touch (much) with safety interlocking sales people they have their risk monograms upside down forcing you to the most expensive solution. If you do try and use the standards directly you will be trying to re-invent the wheel. You won't be sure you have addresed the issues properly and you may not be seen as compliant. Email me and I will send you some free info on how it is done in Aus.

Answer 4

The main "standards" are:

AS/NZS 4360:1999 - Australian and New Zealand Risk Management Standard.

CAN/CSA-Q850-96, Risk Management: Guideline for Decision Makers.

Framework for the Management of Health, Safety and Environmental Risks - UK Ministry of Defence.

Operational Risk Management (ORM) - US Military.

Operational Risk Management - Basle Committee on Banking Supervision 1998 - Basle, Bank for International Settlements.

Risk Management for Electronic Banking and Electronic Money Activities - Basle Committee on Banking Supervision 1998 - Basle, Bank for International Settlements.

How you make use of them will depend on what industry you are in.

Answer 5

I additionally use danger administration in my job (pc community secure practices). My source is an occasion of the form of technique I follow to danger administration. it somewhat is definitely quite complicated and demands some very good subjective judgment judgements and ultimately some acceptance of danger. it form of feels to me that making use of this to CO2 help in the context of international warming may well be very complicated. that isn't be a reason to do no longer something yet on condition that plus the act of having many different events to agree on some thing makes it an quite complicated exercising. you're on the component of desirous to do some thing top now (if no longer previously) on the same time as i'm on the component of wanting greater education and learn. If i became into greater confident of the topics that could happen sooner or later, i might lean greater in direction of your section yet as of now i'm no longer. In different words, i do no longer verify the possibility as extreme as you are trying this must be the respond on your question. (See, that wasn't so undesirable, became into it?) Edit: As a notice on your new employment, i'm hoping you will comprehend that even on the subject of human wellness we would desire to settle for some danger. and that i additionally desire you will comprehend that some each physique is prepared to settle for greater danger than others. the nice and comfortable button is to precise and wisely verify the possibility. it somewhat is the stumbling block for international warming for my section.

Answer 6

Better go to sum professional & consult

;-)