Saturday, August 20, 2022

RISK REGISTER - SAMPLE

 


RISK REGISTER - SAMPLE




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Risk management is a key topic which plays a important role in mitigating workplace risk, which is much required for the safe execution of activities. This sample risk register gives the basic ideas for preparing HSE Risk Management.

Risk Register Template - Risk management is aimed at reducing the ‘gross level’ of risk identified to a ‘net level’ of risk, in other words, the risk that remains after appropriate action is taken. This template has been created to illustrate a practical way of recording in a risk register how this reduction in level might be achieved by the charity. In example 1, the gross risk is identified as the lack of return/diversity of investment portfolio and rated as high. After identifying the procedures for managing this risk, the net risk has been rated as medium. Trustees need to form a view as to the acceptability of the net risk that remains after management. ESG Risk Management is one the major one in industry. ERM is the leading company in helping out the risk management for variety of companies.

 

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The charitable sector is by its nature diverse. The nature of activities, funding base, reserves and structures will expose charities to differing areas of risk and levels of exposure. While the areas of risk identified in this template will deserve consideration by most charities, it is not an exhaustive list of all potential areas of risk and should not be a substitute for a charity undertaking its own processes for risk identification.

 

The list of risk areas is intended to be an indication of some of the main areas of risk that may need to be considered by trustees. Illustrative examples of potential impact are given, as well as some illustrative examples of controls or action that might be taken to mitigate the risk or impact. Some risks will fall into more than one category. Although the list may be long, it is not exhaustive and there will be other risks that apply to a particular charity because of its own circumstances and activities.

 

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Risk Register


Scoring should be done as follows:

· Likelihood of occurrence – give a score of 1 to 5 (as shown on the bottom axis of the table)

· Severity of impact - give a score of 1 to 5 (as shown on the left hand axis of the table)

 

These two scores are multiplied together to give the overall or ‘gross’ risk.

Score of 11 or more – high extreme/catastrophic risks (Red)

Score of 5 to 10 - moderate or major risks (Yellow)

Score of 3 or 4 - minor risks (Blue)

Score 2 or below – insignificant risks (Green)


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