Risk management begins by identifying hazards and opportunities across work sites and operations, assessing their likelihood and potential impact, and prioritizing treatment according to risk level and project requirements. Appropriate controls are selected, with responsibility for implementation and monitoring assigned before and during the work.
Practices include monitoring control effectiveness, reporting incidents and near misses, preparing for emergencies, and reviewing risks when work scope, site conditions or requirements change. Worker participation, clear communication and continual improvement help reduce risk and support business continuity.
Risk management practices
- Identify risks and opportunities related to work sites and project scope.
- Assess likelihood and impacts, and prioritize treatment.
- Select suitable controls and assign responsibility for implementation and monitoring.
- Monitor control effectiveness and report incidents and near misses.
- Prepare for emergencies and review risks when work conditions change.
- Engage workers and use lessons learned to improve performance and business continuity.