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Risk Management

Managing risk is an inevitable challenge facing property owners, designers, managers and constructors. Planning to manage risk effectively and efficiently can be the difference between delivering projects on time, and non-compliance and outrage.

CETEC has the experience and expertise to effectively manage your risk, especially when it is property, environment, OH&S or product and process related. Technical risks can be diverse and complex; at CETEC we focus on reducing your risk and providing solutions to assist with your risk management.

Not fully managing your risks can have many consequences such as:

  • Stakeholder outrage
  • Financial loss
  • Litigation
  • Criminal action
  • Negative publicity
  • Business operational problems

International Standard ISO 31000 offer a systematic and formal approach to managing risk. The essential elements of risk management include:

Risk Identification

An audit is usually a common approach to identify the hazards and threats, which may involve a simple site visit or a complete appraisal of all procedures and processes within your organisation.

Risk Analysis

Establishing the risk severity by understanding the likelihood and consequences of each identified risk is important. This allows a priority ranking of the risks. Control and treatment options can be developed with consideration of the time and costs of reducing the risk.

Communicate and Consult

It is crucial to advise all stakeholders of the risk and unify their perceptions. The incorporation and education of stakeholders is key to reducing any potential outrage incidents.

CETEC works together with project stakeholders to develop risk management plans with various actions which can reduce the likelihood of outrage taking place. On occasions when outrage of stakeholders has occurred, CETEC can educate and communicate with affected groups to reduce the impact from the outrage

Importantly, risk management solutions are tailored for the project; that is, they are project and site specific. CETEC can provide a complete solutions focused package to help you identify and mitigate your risks. We have done so with a wide range of private companies and government organisations. Please contact us to discuss your risk management requirements.