- Home
- Energy management
- Introduction
- Global warming
- Australia's greenhouse gas emissions
- Drivers for change
- Key policy & regulations
- Industry leadership
- Energy management principles
- Energy measurements
- Collecting energy data
- Transmission & distribution loss factors
- Calculating greenhouse gas emissions
- Key energy use areas
- Energy efficient methods
- Safety
- Motors, pumps and fans
- Energy efficient lighting
- Heating, cooling and solar
- Acknowledgements
Risk Management
2. Understanding risk management Risk management is the process undertaken to identify threats (risks) to your organisation. It is also the process created to find ways to minimise or prevent these identified risks. You are already practicing risk management in your day to day life. Food for thought…. Every time you leave your house you are identifying and managing a range of risks. By driving your car you face the possibility of injuring yourself or inflicting injuries on others. If you ride on a motorbike, you face a risk of being injured or killed by your fellow motorists. You run the risk of receiving a speeding fine or even damaging your car and incurring a financial loss. We manage all these potential risks and still continue to manage our lives. We cannot avoid risk, but we can manage it. |
 Different people will have different ideas about risk. For some people this activity would be too risky to contemplate. Photo: Motorcycle stunt, by AngMoKio. Permission. |
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3. Defining risk management The Australian and NZ Standard for Risk management defines it as: the term applied to a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise loses and maximise opportunities.
4. Summarising risk management Risk management consists of the development of a system of policies, processes and procedures that assess and manage risks within your workplace. You can’t eliminate risks, but you can manage them. Risk management should be a part of your workplace culture. It should not be seen as something extra to do. If managed appropriately, risk management will actually save time, resources, stress and ultimately money. All risk management processes, even those that are informal, should be documented and be based on a known system. A risk is any exposure to potential loss or damage that can impact on your organisation.
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