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RISK MANAGEMENT DEFINITION
coordinated activities to direct and control an organization with regard to risk
(effect of uncertainty on objectives) (ISO 31000:2018)
CHALLENGES FACED BY OHS DEPARTMENT IN RISK MANAGEMENT

Exclusive inappropriate and timely involvement of stakeholders disables their

knowledge, views and perceptions to be considered. This results in unimproved
awareness and informed risk management.
CONTINUE….
Dynamic Risks can emerge, change or disappear as an organization’s external and
internal context changes. Risk management anticipates, detects, acknowledges
and responds to those changes and events in an appropriate and timely manner.
failure to monitor and manage risk dynamics results in poor risk management
CONTINUE…
Inadequate Best available information The inputs to risk management are based on
historical and current information, as well as on future expectations. Risk
management explicitly takes into account any limitations and uncertainties
associated with such information and expectations. Information should be
timely, clear and available to relevant stakeholders
CONTINUE……
Integrated Risk management is an integral part of all organizational activities.
The effectiveness of risk management will depend on its integration into the
governance of the organization, including decision-making. This requires
support from stakeholders, particularly top management. Framework
development encompasses integrating, designing, implementing, evaluating and
improving risk management across the organization.
CONTINUE…
Structured and comprehensive A structured and comprehensive approach to risk
management contributes to consistent and comparable results.
Lack of clearly assigned authority, responsibility and accountability at appropriate
levels within the organization results in poor risk management.
CONTINUE
Lack of Customized The risk management framework and process which are
customized and proportionate to the organization’s external and internal context
related to its objectives.
CONTINUE
Human and cultural factors Human behaviour and culture significantly influence all
aspects of risk management at each level and stage.

Everyone in an organization has responsibility for managing risk failure of the

organization to be customize risk management to the organization’s needs and
cultural and human factors leads to poor risk management
CONTINUE
Risk management is continually improved through learning and experience.
If the organisation does not learn anything of previous risks that would have befall it
then it becomes difficult to manage similar risks in the future
CONTINUE….
Lack of proper resource allocation for risk management
Resources include people, skills, experience and competence; — the organization’s
processes, methods and tools to be used for managing risk; — documented
processes and procedures; — information and knowledge management systems;
— professional development and training needs
CONTINUE
Poorly defined needs and expectations for internal and external interested parties
CONTINUE
uncommunicated risks to interested parties
CONTINUE
Lack of a profound risk register
Lack of clearly defined objectives and targets that takes into consideration all the
associated business and ohs risk
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