Chapters Seven and Eight
- Risk Management
introduction :
Traditional risk management focuses on risks resulting from physical or legal causes (for example: natural disasters, fires,
accidents, death and lawsuits). On the other hand, financial risk management focuses on those risks that can...
Manage them using financial swap instruments.
Risk management is not limited to public institutions and organizations only, but also to all activities, long and short
Long term. The benefits and opportunities of risk management must be considered in relation to the various affected stakeholders and not only in...
Its relationship to the organization’s activity.
Regardless of the type of risk management, all major organizations as well as smaller groups and organizations have a team
Risk management specialist.
Danger:
• It is the possibility of something undesirable to happen.
• Measuring the probability of a specific undesirable event that results in undesirable consequences, including losses or injuries.
Risks :
• Risk can be defined as a complex combination of the probability of an event occurring and its consequences.
• Risk is also a link between the probability of an event occurring and the consequences of its occurrence.
• The risks facing any organization and its activities can result from external and internal factors. It can be further divided into
Types of risks such as strategic, financial, operational, environmental, security, safety...etc.
• Risk management is increasingly referred to on the basis of its association with the positive and negative aspects of risk, and therefore takes
The standard takes into account risks in terms of both negative and positive aspects.
• In the area of safety, it is generally observed that only negative results are considered, which has led to focused risk management
Safety prevents and reduces damage.
Classification of the organization's activities:
• Strategy: It is concerned with the long-term strategic goals of the organization, and can be affected by several factors, including (extent
Availability of capital, political and sovereign risks, legal and legislative changes, reputation, and environmental changes.
Natural (.
• Operational: It is concerned with the aspects of daily activity that the organization faces during its pursuit of achieving strategic goals.
• Financial: It is concerned with the effective management and control of the financial aspects of the organization and the impact of external factors such as availability
Credit, exchange rates, interest rate movements and various other market exposures.
• Knowledge management: concerned with the effective management and control of knowledge sources, production, and other protection factors
and communications. External factors may include unauthorized use or misuse of intellectual property,
Power outages, and technological competition. Internal factors may include the failure of administrative systems or the loss of important elements
Manpower.
• Compliance with laws: concerned with aspects such as health and safety, environment, commercial specifications, consumer protection,
Information systems protection, employment and legal aspects.
Risk Management
• It is an essential part of the strategic management of any organization.
• They are the procedures that organizations follow in an organized manner to confront the risks associated with their activities, with the aim of achieving benefits
Sustainable outcomes from each activity and portfolio of all activities.
• The primary focus of good risk management is to recognize and address these risks.
• Risk management helps to understand the potential positive and negative aspects of all factors that may affect the organization,
It increases the probability of success and reduces both the probability of failure and the uncertainty of achieving the overall goals of the organization.
• Risk management activities must be continuous and constantly evolving and linked to the organization’s strategy and how to implement it
The strategy. It must deal in a systematic manner with all the risks surrounding the organization's activities in the past
The present and the future in particular.
Risk management protects and adds value to the organization and various stakeholders by supporting the organization’s objectives
road :
• Provide a framework for the organization to support the implementation of future activities in a consistent and controlled manner.
• Developing decision-making, planning and prioritization methods through a comprehensive and organized understanding of the organization’s activities,
And the negative and positive changes and opportunities available.
• Contributing to the effective use (allocation) of the capital and resources available to the organization.
Reducing fluctuations in non-core areas of activity.
• Protecting and developing the organization’s assets and reputation.
• Develop and support human resources and the organization’s information base.
• Maximize operating efficiency.
Steps in the risk management process:
• Planning the risk management process and mapping the scope of work and the basis and standards that will be relied upon as well
Defining a framework for the process and an agenda for analysis.
• Identify and identify risks.
• Risk analysis .
• Description of risks.
• Risk assessment.
• risk assessment.
• Preparing risk reports and communications.
• Addressing risks.
• Monitor and review risk management processes
Steps for qualitative risk assessment:
Determine the work task:
• The first step
- Hazard identification
- This step is the most important in determining risks (natural, chemical, biological, ergonomic, etc.)
- Physiological (use the attached checklists
• The second step
- Identify potential consequences
The likely outcome of accidents is that they may cause the following:
- Disruption in production processes
- People getting injured
- Losses in machinery and equipment
- Falling under the responsibility of the law
• The third step
What are the possibilities that, if they existed, would lead to an accident or this defect?
There will be several possibilities for each risk, such as personal error, mechanical failure, unusual circumstances, etc. and use
- Matrix table to determine the level of risk.
• Fourth step
- Apply risk control measures
- Which is summarized in (ERICPD)
- Remove Eliminate
- Reduce
- Isolate
- Control control
- Personal protective equipment (PPE).
- Discipline i Discipline
• Fifth step
- Re-appraising the Residual Risk
- Has the risk been reduced to an acceptable level? ALA RP
- Can other means be added to reduce the probability of the risk occurring or its consequences if they occur?
- Who is responsible for making these changes?
- It must be known that detecting dangers is the work of every individual in the facility and is not limited to specific individuals
- Controlling dangers must be done through two methods, the first is local control and the other is administrative control management control.
Example:
- Process: Inhaling iron rust dust in the air in the oven area
- Evaluation: Pulmonary ossification
- Local control: done by
1 - Good ventilation above the oven and dust removal
2- Use personal protective equipment (air filter)
Types of danger:
- Risks associated with machinery and equipment.
- Risks associated with materials and raw materials.
- Risks associated with the workplace.
- Risks associated with work methods.
- Risks associated with the work environment.
- Risks resulting from the structure of the work.
- The risk may affect individuals or affect the environment.
- Danger exposes individuals.
- It affects the health of workers.
- Injuries happen.
- Lives lost.
- Hazard affecting the environment.
- Risk of contamination.
Types of danger can be divided into:
Natural hazards:
• Falling from heights. Collision with falling objects
• Skating. Stumbling
• Things falling. Failures in the scaffold
• Defects in a machine or tool. the noise
• Manual transfer. Storage and p
• Transport . Radiations
• Cleanliness and arrangement. Lighting
• Temperature
Electrical hazards:
- Shock
- Burn
- Mechanical burns
Chemical risks:
- Gases
- Fumes
- Smoking
- Biological risks:
- Bacteria
- Viruses