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Methodology
The methodology followed is the identification of risks through a combination of techniques including interviews, questionnaires, self-assessment, brainstorming workshops and review of existing documentation prior to a risk
profiling workshop. ABPL then recommend that each of the risks be discussed
Risk Context
Before embarking on a risk assessment we must ask why are we doing this assessment and who will be using the results. Answering these questions establishes the context for the risk assessment.
Risk Identification
Risk identification is critical for effective risk assessment. Participants are asked to formally consider the risks facing the organisation for the given context. ABPL facilitate the recording of these risks and
provide guidance in the identification process.
Categories for risk identification are used to trigger the identification risks.
Risk Assessment Workshop
Risk assessment should be conducted formally in a workshop environment. ABPL can facilitate such workshops, guiding the process and recording the outcomes. In the workshop the steps would be:
- Each of the participants would discuss the risks that they had raised one-by-one. All other participants are invited to input to the discussion.
- All risks would be addressed in this manner prior to any assessment. In this way, participants build up a picture of the breadth or risks facing the organisation.
- The second step of the process is the assessment of each of the risks in terms of likelihood and consequence leading to risk categorisation as extreme, high, moderate or low in line with the Australian Standard framework.
- The next step is to do a “reality check” on the outcomes to ensure that the priorities reflect the real risks as perceived by the participants
- Risks ranked as extreme and high by this process are then evaluated for the need for further assessment perhaps by quantitative methods to better understand the risk.
- We then determine treatment strategies and actions to manage the extreme and high risks.
Outcomes of the Risk Assessment
As an outcome of the risk assessment a profile of the risks is provided along with an outline of the treatment strategies that can be developed into detailed treatment plans.
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