The objective of Risk Treatment and Risk Mitigation is to identify how your identified risks will be treated. Risk treatment involves identifying the options for treating each risk, evaluating those options, assigning accountability (for Very High, High and Moderate residual risks) and taking relevant action. For each risk, the risk owner must establish an appropriate level of treatment. Control measures in addition to those already existing may be needed to achieve this level of mitigation. Accountable managers should engage with risk owners to develop a satisfactory response for each risk in order to:
The risk owner is responsible for the development of the response. When a response action is completed, the risk should be reassessed to reflect any newly introduced control measure. Monitoring Continuous systematic and formal monitoring of implementation of the risk and opportunity process and outputs take place against appropriate performance indicators to ensure process compliance and effectiveness. Monitoring takes a variety of forms that range from self-assessment, inspections and internal audits, to detailed reviews by independent external experts. Escalation On occasion, it may be appropriate to escalate a health and safety risk to ensure it is assessed and/or managed by the person or party best placed to do so (able and with appropriate authority). For example, where a more substantial or coordinated response is required than the current risk owner can authorise or implement will justify higher level assessment and/or management, as appropriate:
Managing opportunities Your organisation recognises an ‘opportunity’ as a set of circumstances which makes it possible to leverage positive factors and attributes, for example:
Opportunities may be identified as positive effects of risks, as in a risk forcing implementation of a risk reduction measure that is beneficial in a broader context than just reducing a particular risk. For example, health risks may require measures to improve working environment. These measures also create opportunities to attract and retain better qualified employees, improve morale and job satisfaction, and reduce turnover, and so the initial health risk creates positive opportunities to improve the overall job satisfaction. Check that any actions taken to address the risks and opportunities are recorded and ensure that the effectiveness of each action was effective at addressing the issue, and that the action taken was proportionate to the risk or opportunity. Consider the following as useful tools:
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