Risk Management

Why Choose ISS? | Risk Assessment | Risk Management Strategy

EFFECTIVE RISK MANAGEMENT INVOLVES:

The identification, assessment, and prioritisation of risks.
The coordinated and economical application of resources...
- to minimise, monitor, and control the probability and/or impact of unfortunate events.
- to maximise the realisation of opportunities.

OHS RISK MANAGEMENT IS A LEGAL REQUIREMENT:

In terms of the Occupational Health & Safety Act no. 85 of 1993, as amended.
All Occupational Health & Safety risk assessments must be reviewed every 1 - 2 years.

Why Choose ISS?

ISS assists clients in understanding and quantifying risk within their business structures in a proactive rather than reactive way.

We adopt a clinical approach that affords companies the opportunity to plan properly to avoid possible pitfalls in advance.

ISS has the expertise to manage risk in multiple business areas (see below).

Each area has its own definitions of risk and management goals.
ISS therefore utilises the most relevant risk management standards that have been developed by recognised international authorities.

ISS assesses risk in any of the following areas:

Financial markets
Project failures
(at any phase in design, development, production, or sustainment life-cycles)
Legal liabilities
Credit risk
Occupational Health and Safety
Natural causes and disasters
Events of uncertain or unpredictable root-causes

Risk Assessment

The 4 stages of Risk Assessment:

Risk identification

Risk assessment and evaluation

Risk quantification

Follow-up action and control

A hands-on risk assessment forms the first step of all risk management systems. Its outcome dictates:

Monitoring, Measurement, Training, Operational Control, Objectives, Targets and related Management Programme Requirements.

Utilising the 5 Point Risk Matrix Scale:

We continually conduct risk assessments to ensure:

Information is up to date.
Improvement plans are progressing as intended.

Risk Management Strategy

Once a thorough assessment has been completed, ISS formulates a risk management strategy that is customised to the needs and situation of each client.

Strategies may include, but are not limited to:

Transferring the risk to another party.
Avoiding the risk.
Reducing the negative effect or probability of the risk.
Accepting some or all of the potential or actual consequences of a particular risk.