Managing Risk Protects and Creates Value
Why do you need a Risk Management Consultant?
Managing Risk is about more than protecting value; it is also about creating value.
Integrating a risk management system can help businesses identify and mitigate risks, enhance decision-making, improve stakeholder confidence, and facilitate compliance.
These benefits can improve business outcomes, including greater stability, resilience, and profitability.
Steps of the risk management process:
Red Letter Consulting can help you to identify and manage your business’s risks in a comprehensive and practical way.
Hazard Identification
Red Letter Consulting undertakes a process of Hazard Identification, encompassing:
- Organisational factors
- Social factors
- Leadership
- Culture
- People
- Routine and non-routine activities
- Past incidents
- Potential emergency situations
- Actual or proposed changes
- Change in knowledge of hazards
Hazard Identification will be undertaken via various pathways, including:
- Walk through investigations (office, worksite, etc)
- Observation of work practices
- Consultation with Management and Workers
- Undertaking Risk Assessments
- Undertaking Job Safety Analysis process
- Development of safety documentation
- Review of hazard and incident reports
- Review of nonconformance reports
- Review of legislation, industry information, compliance codes, etc
- Development of a risk register
Risk Assessment
Organisational Risks include, but are not limited to:
- Compliance: laws, regulations, standards
- Legislative and contractual compliance: failure to meet legislation or contractual obligations
- Strategic: failure to follow business strategy
- Reputational: threats to the company due to public opinion
- Operational: human error, asset damage, fraud
- Human Factors: health issues, theft, fraud
- Security: cybersecurity
- Financial: market changes, default, liquidity
- Competition: competitors taking an increasing share of the market
- Physical: threats to assets such as workers and infrastructure
Risks will be ranked according to our Risk Matrix and managed using the Hierarchy of Control process.
How Red Letter Consulting can assist with your Risk Management and Hazard Identification Assessments
Redletter Consulting provide practical support to ensure that your business can operate effectively without being exposed to unnecessary risks.
Red Letter Consulting offers Risk Management Assessments Services to the Gippsland Region, East Gippsland Region, and Latrobe Valley, including Drouin, Korumburra, Lakes Entrance, Leongatha, Mallacoota, Marlo, Metung, Morwell, Neerim South, Omeo, Orbost, Paynesville, Port Albert, Port Welshpool, Sale, Traralgon, Warragul, Wonthaggi.