Risk Management, EHS/S, Business Continuity and the 360 Risk ...

It has been a while since I?ve placed a post. ?The ?summer has been full working on developing the 360 Risk Management Check-Up? which is a high level diagnostic to measure the EHS/S and risk management function in organizations.? Associated with this work, I have been conducting research on the evolution of organizational risk management and growing attention on non financial risk management (NFRM).

Organizational risk management (RM) concepts and practices have been evolving from a singular focus on financial risk, to look more broadly at enterprise-wide and non-financial risks.? Approaches such as enterprise risk management, strategic risk management, value risk management, etc. have been evolving into what is being called NFRM.

Business continuity and risk management are closely linked. A key task of senior executives, if not the key task, is business continuity assurance.? Business continuity depends on comprehensive risk management.? The health of an organization?s EHS/S department is a key indicator of risk management ability.? High EHS/S department ability reflects high-risk management ability, and thus increased business continuity confidence. Many EHS/S departments have developed strong risk management practices.? This organizational function often has the strongest NFRM ability.? If you are looking to develop, or improve your risk management framework, you can leverage many transferable EHS/S structures and skills.

Parallels between Risk and EHS/S Management Maturity

Risk and EHS/S management function maturity can be viewed within a five level maturity continuum.? At the lowest level, there are struggles to meet basic regulatory compliance.? At level 2, basic regulatory compliance is met and there is assurance evidence.? At level 3, beyond compliance strategies appear, such as use of ISO-based management systems and lean six-sigma approaches.? At level 4, the beyond compliance structures are established and maintained with solid assurance; also observed at this level is proactive performance measurement and auditing that fosters learning and continual improvement.? At the final level, EHS/S and risk management values are central to the organizational identity, brand and strategy; there is deep EHS/S and risk management integration in the organization.

The 360 Risk Management Check-Up?

The 360 Risk Management Check-Up? can provide robust support to organizations that seek to improve their NFRM framework.? The Check-Up provides the risk management assurance senior executives seek by proactively identifying weaknesses and blind spots.? A key piece to this is assessing the strength of the existing ISO 14001/OHSAS 18001 EHS/S MS.? A strong integrated management system can provide the perfect NFRM platform when augmented with the ISO 31000 Risk Management standard.


&copy Redinger EHS, Inc. (2010)

Source: http://www.strategicehs.com/2011/09/risk-management-ehss-business-continuity-and-the-360-risk-management-check-up%E2%84%A2/

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