DEF : A formal process to manage changes within an organisation in a systematic manner, so that changes which may impact identified hazards and risk mitigation strategies are accounted for, before the implementation of such changes
DEF : The act of sharing information with targeted audiences in order to promote awareness and understanding of risk, whereas consultation involves obtaining feedback and information to support decision-making.
DEF : The assimilation of risk information into existing (day-to-day ) management activities and integration of risk management into governance and all other activities of the organisation influence its effectiveness
DEF : Process of planning, gathering and analysing information, recording results and providing feedback in order to to assure and improve the quality and effectiveness of process design, implementation and outcome
DEF : A series of actions conducted in a certain manner- a system in which reports are evaluated, processed (within defined time scales), analysed and stored, with feedback about actions taken/not taken
DEF : Overall process of risk identification, risk analysis and risk evaluation, that should be conducted systematically, iteratively and collaboratively, drawing on the knowledge and views of stakeholders.
DEF : The systematic application of policies, procedures and practices to the activities of communicating and consulting, establishing the context and assessing, treating, monitoring, reviewing, recording and reporting risk
DEF : A composite view of the risk assumed at a particular level of the entity, or aspect of the business that positions management to consider the types, severity and interdependencies of risks and how they may affect performance relative to the strategy and business objectives
DEF : Select and implement of risk treatment options for addressing risk, balancing the potential benefit derived in relation to the achievement of the objectives against costs, effort or disadvantages of implementation.
DEF : Objectives consistent with the safety policy which form a basis for performance monitoring and measurement, lead to an improvement in process/outcomes, contribute to the development of a positive safety culture, and are regularly reviewed and communicated throughout the organisation to ensure relevance.
DEF : A knowledge cycle of learning whereby tacit know-how is accumulated through practical experience, made explicit when one is learning new skills, and further automatised and increasingly tacit with practice.
DEF : An outcome that has relative worth, merit or importance in the context of collective(cultural) values.
an entity’s value is created, preserved, eroded or realised based on the relationship between the benefits derived from resources deployed and the cost of those resources.