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What
is Risk
Risk is the chance
of something happening that will have an impact on objectives. If something
has already happened, or will happen with certainty, it is an issue
and will need to be responded to appropriately.
What
is Risk Management
Risk management
is the culture, processes and structures that are directed towards
realising potential opportunities whilst managing adverse effects.
An effective risk
management strategy will focus effort and attention on the things
that matter most, either because they are likely to have significant
impact or could be devastating if they do occur.
Risk management
in Defence follows the steps outlined in AS/NZS 4360:2004 and involves
applying a systematic process to establish the context, identify,
analyse, evaluate, treat and monitor risks. Managing risks can reduce
the likelihood of their occurrence, or if they do occur, reduce the
consequences to acceptable or manageable levels.
Risk
Management in Infrastructure Planning, Delivery, Operation, Maintenance
and Disposal processes
Risk Management has been
integrated into all key steps of the two stage asset development and
approval process and a number of risk assessment tools have been developed
to assist in the process. |
