RiskFlag – what we do
Risk: the effect of uncertainty on objectives
Risk and safety management systems
We have extensive experience of designing and implementing effective risk and safety management systems. A good risk management system starts with a process of identifying and assessing hazards and risks. Resources are then allocated to treat each risk, reducing the risk level through either a reduction in the likelihood of a negative outcome or through mitigating its severity. The final component is a reporting mechanism, which informs the system with data, validating or challenging assumptions and highlighting weaknesses in defences.
We recognise that even the best systems, with the most sophisticated analysis and cutting edge information technology, can only work if the organisational culture that surrounds them is supportive of the intended risk management ethos. We combine our technical knowledge with the experience and interpersonal skills necessary to ensure that your risk management system has the best chance of operating successfully.
“A Safety Case is a structured argument, supported by a body of evidence, that provides a compelling, comprehensible and valid case that a system is safe for a given application and a given environment”
If your organisation needs to build a formal safety case, either because of regulatory requirements or because there is a need for a persuavive, structured argument to be made, then we can help. Our team can build compelling safety cases to recognised regulatory standards, and can equally apply this safety industry standard technique to other risk-related problems, such as business investment decisions.
We have a very successful partnership with Corporate Governance Risk (CGR), facilitating the deployment of their cloud-based risk management software - CGR Foundation. We can provide on-site and remote workshops, advising on the integration of the software with your organisation's risk management system. Equipped with CGR Foundation, process overheads associated with managing risk through cumbersome spreadsheets and emails can be replaced with a more digital and collaborative way of working. This presents your organisation’s risk profile clearly, with powerful and intuitive dashboards, supporting management of uncertainty to achieve objectives.
To learn more about risk management and our way of thinking, please follow our article series: https://medium.com/riskflag