Elements and Performance Criteria
- Determine appropriate risk assessment strategies
- Evaluate risk and compliance factors
- Accurate, reliable and up-to-date information on these elements is identified and collated in a form suitable for analysis with relevant data accessed and comprehensively investigated and reviewed
- Risk elements are evaluated against known exposure factors and compliance with relevant legislation and organisation policy is considered
- Risk acceptability factors are evaluated within the context of organisation's mitigating capabilities
- Risk acceptability factors are evaluated within the context of organisation requirements
- Establish risk acceptance criteria
- Terms and conditions of risk acceptance criteria for low hazard risk areas are established that meet market conditions and are within organisation accepted levels of exposure
- Terms and conditions of risk acceptance for high hazard risk areas are established that meet market conditions and are within organisation accepted levels of exposure
- Risk acceptance strategies, criteria and guidelines are clearly documented, and meet the requirements of relevant guidelines and are determined within delegated authorities
- Relevant feedback is obtained and reviewed and the risk acceptance criteria, and associated authority limitations, conditions and guidelines finalised
- Develop risk management strategies
- Implement risk assessment strategies
- Evaluate and review risk assessment strategies