Risk Assessment

The Risk Assessment module is a powerful, flexible, and intuitive module will enable you to plan and build an effective risk assessment program and perform ongoing analysis to continuously evaluate and mitigate risk.

Key Benefits of the Risk Assessment Module

The Risk module will enable you to:

• Comply with ISO 14001 requirements for risk assessment and enable you to visualize your significant aspects and impacts
• Pro-actively evaluate and mitigate risk by tracking and trending changes in risk to processes over time and with varying controls
• Promote effective ‘Management of Change’ by linking risk change to actions
• Support efficient compliance management by tracking legal and procedural requirements by process/area while performing assessments
• Connect seamlessly to the incident investigation process, providing your investigators insight into the cause of the incident and your assessors’ insight into where risk assessment improvements can be made

Key Components

This module includes many invaluable features that will help you quickly and effectively realize the benefits described above. The features fall into four groups:

• Job/Process Inventory
• Risk assessments/Hazard Analysis
• Risk Assessment Metrics
• Integration Points

Job/Process Inventory

• Keep an active inventory/description of the continuously evolving scope of your work by managing an active list of ‘jobs’, ‘processes’, or ‘risk units’ which require an assessment
• Track and view all related procedures to a job/process within one record, including procedure documents and procedure status (ie: procedure is adequate, not followed, etc.)
• Link any number of legal and other requirements to each job/process so that you can efficiently build a needs assessments by job/process / area
• Create exposure groups based on job/process and add jobs to an exposure group based on risk assessments. This offers a powerful way to implement mitigating actions (i.e. training)

Risk assessments/Hazard Analysis

• Track all task, hazard, control, and risk assessment inputs in one record, allowing you to easily visualize the risk, understand key controls, and prioritize actions for risk reduction
• Configure the tool to your company risk assessment methodology: choose which risk factors, control factors, formulas, colours, icons, values you require
• Allow assessors to describe task, hazards, and controls with both free text and user-defined drop-down choices
• Visualize the risk before and after a control is introduced and offers a third iteration of risk that is based on an ideal / future control
• Use a powerful and configurable risk calculation tool to automatically determine risk based on your requirements. This tool can:
• Incorporate up to 12 different factors including probability, severity, and frequency
• Calculate risk using a matrix model with pre-defined risk level for each quadrant, OR
• Calculate risk using user-defined simple or complex formulas
• Link to incident investigation data so that investigators can view active assessments related to a job where an incident occurred
• Save time with many efficiency tools, including copy, clone, and inactivation actions for a risk assessment task

Risk Assessment Metrics

• Build flexible graphs using any risk data so that you can track risk change over time or compare risk in various locations
• Post any graphs you build to your dashboard
• Define any custom measures that you wish to track, and use those measures to compare to standard system measures (for example, track targets vs. actual)