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Course Outline


Introduction & course outline

Download Course Brochure
  • 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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