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Course Outline

 

Introduction & course outline

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  • Course outline, learning outcomes and expectations
  • Clarification of what is operational risk
   
 

Getting the knowledge to get it right!

 
  • Introduction of core concepts including:
    • Difference between hazard and risk
    • What is a hazard
    • Systems approach to risk
    • Incident causation occurs over time
    • How do things go wrong
    • Points of intervention for control and designing controls
   
 

The risk management process

 
  • AS/NZS 4360 Risk management and its application
   
 

Establishing the context

 
  • When is an operational risk study required
  • Scoping what to study
  • Where and when should it occur and who should be involved and consulted
  • Defining the internal and external environment
  • Clarifying and sourcing the information required for the risk study
   
 

Identify hazards

 
  • Appling the concept of hazards as sources of potentially damaging energy
  • Tools for hazard identification
  • Developing a hazard profile
   
 

Analysing risk

 
  • Identify risk factors including properties of the hazard, current controls and how they might fail, and exposure
  • Introduction to risk analysis tools and when they should be used
  • Use of JSA (HIRAC) and Bow Tie
  • Estimate risk
    • Factors affecting reliability of estimates
    • Qualitative and quantitative estimates
    • Use of matrices and nomograms
   
 

Evaluating risk

 
  • ALARP/ALARA, tolerability of risk and residual risk
  • Making decisions based on risk assessment
   
 

Controlling risk

 
  • Generating options
  • Actions to reduce consequence, likelihood and exposure
  • Evaluating controls including review of how controls might fail
  • Developing a risk control action plan
   
 

Monitor & review

 
  • Why this step is important
  • What should be monitored
  • Tools for monitoring including risk focused auditing
  • Planning for monitoring and review
   
 

Course review

 
  • Summary of learning and actions to take away
  • Feedback on the course
  • Options for competency assessment
   
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