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Communicate the plan and consult those affectedĬommunication and consultation are important considerations at each step of the risk management process. Ongoing review is essential to ensure the risk management treatment plan remains relevant. Factors that affect the likelihood and consequences of an outcome can change, as may the factors that affect the suitability or cost of the various treatment options. the management system set up to control implementation.įew risks remain static.the effectiveness of control measures, including.To ensure changing circumstances do not alter risk profiles, it is necessary to monitor: Communicate and consult with internal and external stakeholders as appropriate at each stage of the risk management process as well as the process as a whole.Monitor and review the performance of the risk management system and changes that might affect it.For higher consequence risks, develop and implement a specific management plan or procedure that includes consideration of all aspects required to mitigate the risk to an acceptable level.Low-priority risks should be monitored and reviewed.Compare estimated levels of risk against the pre-established criteria so risks can be ranked and management priorities identified.The analysis should consider the range of potential consequences and how likely those consequences are to occur.Determine the existing controls and analyse risks in terms of consequence and likelihood in the context of those controls.Identify what, why and how things can arise as the basis for further analysis.Criteria against which risk will be evaluated should be established and the structure of the analysis defined.Establish the context in which the rest of the process will take place.The main elements of the risk management process are listed below. Risk management is as much about identifying opportunities as avoiding or mitigating losses.
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Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise losses and maximize opportunities. It is an iterative process consisting of steps, which, when undertaken in sequence, enable continual improvement in decision making. Risk management is recognised as an integral component of good management and governance. TENGRAPH A spatial enquiry and mapping system displaying the position of Western Australian mining tenements and petroleum titles in relation to other land information About.Petroleum and Geothermal Information (WAPIMS) Petroleum exploration database containing non-confidential data on wells, geophysical survey titles and other related exploration and production data.Safety Regulation System (SRS) Access to electronic lodgement of documents and data, including approvals, compliance, levy assessment, licensing and certification management.Environmental Assessment and Regulatory System (EARS) EARS Online allows online lodgement and tracking of Mineral and Petroleum Environmental Applications.Mineral exploration reports (WAMEX) Exploration reports and data for public download.Mineral Titles Online (MTO) Title details of mineral exploration and mining tenements throughout Western Australia About Access.Construct your own geological map and incorporate other mineral and petroleum exploration datasets including mines and mineral deposits, petroleum wells, active leases, and much more. Interactive geological map (GeoVIEW.WA) An interactive, GIS-based mapping system.Royalties Online System for Western Australian mineral and petroleum producers to electronically prepare, lodge and view royalty returns and production reports.