2. ‘Risk assessment is a systematic
approach to hazard identification
and control.’
3. 1. Part of day to day operations but may
not be documented.
2.Important to systematically review all
risks.
3.Courts can’t second guess after the event
if risk management has been
professionally implemented.
4.Can prevent critical failures.
4. Establish context
Identify risks
Analyse risks
Assess and prioritise
risks
Treat risks
Communicateandconsult
MonitorandReview
Context:
PFI project
Identify:
What can go wrong?
Analysis:
Likelihood & effectiveness
of controls
Assess:
Agree priorities
Treat:
Avoid, Reduce, Transfer or
Retain likelihood