ALARP is the level of risk that is tolerable and cannot be reduced further without expenditure of costs disproportionate to the benefit gained or where the solution is impractical to implement.
Risk matrices are an invaluable tool for organizations seeking fast, effective and practical risk assessment processes but they cannot be used in isolation. Much of the criticism regarding risk matrices has been related to attempting to use them without establishing the broader parameters of the risks being considered.
You’ll find more articles like this and excerpts from my upcoming book “Get the benefits of ISO 31000:2009 Risk Management fast!” at http://31000risk.blogspot.com/
There are many reasons why risk management often fails to get acceptance in a workplace, but one of the main reasons is over-engineering it. Read on to find out how to provide staff with the sort of risk management tools that they will want to use – and thereby make time for the benefits risk management generally.
Communication is intrinsic to risk management, yet it’s all too easy to forget to adequately communicate the results of that analysis. This is perhaps especially true for complex risks such as terrorism and national security where we require specialist knowledge to understand the issues in any depth. There are a couple of very simple things that we can do however to improve our risk communication.
Julian is a Fellow of the Risk Management Institution of Australasia (RMIA), holds a Master of Risk Management, and is a Certified Protection Professional (CPP) with over 20 years international risk management experience. Julian is the Risk Management Practice Leader with Jakeman Business Solutions (JBS), a member of the Citadel Group of companies. He is […]
Almost everyone can recognise the benefits of investments in security risk management when it comes to the basics of putting locks on the office door or the factory gate. Equally, the benefits of significant investments in security measures are obvious when an organisation wishes to operate in a high threat environment.