Busines Sectors Industrial Risk
Management
Industrial Risk Management
Overview
In the 21st Century the industrial workplace should be a safe place to work with environmentally sound and reliable operational processes underpinned by well established health and safety processes and modern risk management practices.
Industrial & Engineering businesses must endeavour to achieve this goal by having clearly defined Industrial Risk Management and Health & Safety programs in place.
The key benefits of a properly developed Industrial Risk Management program include the reduction of risks involving people, environment and assets. It encompasses business and consequential risk, risk transfer and mitigation related to supply chains and production output and the wider ranging knock on ripple effects to the corporate entity, its personnel, contractors, the public and investors.
It is essential to have an integrated approach to industrial risk management and safety with clear lines of communication to key stakeholders to inform them of the array of process and procedures required to manage those issues effectively.
Stakeholders may exist within the organization or project under scrutiny as well as in supply chains to the business to business input and output functions It is important to look at the risk in context of the panorama in which it operates including and where necessary obtain input from related industries and (where appropriate) government and/or legislature, and the general public at large.