Our simple yet effective approach to risk management enables clients to identify, understand and mitigate risks across a
variety of sectors. We use a combination of experience, specialist software and team work to steer our clients in the direction of operational excellence.
To make the process easy to understand, we break it down by developing a Risk Management System into the following 3 areas:
Hazard Identification is a prerequisite to the risk management process. We will help you identify current and potential threats and hazards. A clear understanding of hazards and their related consequences is essential in order to manage risks effectively.
We use BowTie Analysis techniques to generate an overview of your risk landscape giving you a better understanding of your risks. BowTieXP is an interactive piece of software which enables clients to capture their risk landscape on one document. Effectively it is a diagrammatic representation of a risk assessment. The interactive nature of BowTieXP enables users at all levels to understand what mitigations are in place and with some coaching, everyone in the organisation will be able to contribute.
There are 4 simple ways of mitigating risks:
1. Avoid the risk
2. Reduce the risk - if a risk cannot be avoided, reduce its likelihood and consequence.
3. Transfer the risk - transfer some or all of the risk to another party through contracting, insurance or joint ventures.
4. Accept the risk – this may be your only option.