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Basketball Australia -
Managers Risk Management Toolkit
What is Risk Management
Risk Management is defined under the Australian Standard AS4360 where any organization has an obligation to identify and assess foreseeable hazards, and take steps to eliminate or control the risk. It is the process if identifying the risk, assessing the risk then elimination or controlling the risk. Once the risks have been eliminated or controlled, then a monitoring process is established to evaluate and improve the implemented risk controls.
What is Risk?
A Risk or Hazard is anything that may have the potential to harm the health or safety of a person, the business assets or its ability to continue.
Who is responsible for Risk Management?
The employer or organization is responsible to provide a safe working / sporting environment and take reasonable care to identify hazards to both people and the business, and introduce effective measures to mitigate or control the risk.
What is Risk Control?
Identifying risks is jus the beginning, actions must be taken to do something to eliminate or control the risk before it has the chance to cause injury, damage or financial loss. This is called Risk Control.
Risks can be transferred to other parties either by contract or insurance. Or the risk can be reduced by implementing procedures or controls such as administrative procedures, engineering, repairs or maintenance, or security measures to reduce the chance of the risk occurring.
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