This standard provides a common framework for the systematic management of risks and identification of opportunities to Oxiana in the areas of health, safety, environment and community relations.
2. Scope
This standard applies to all Oxiana managed facilities (including contractor activities) and addresses the risk management process (including risk assessment and risk mitigation/control), risk register, action planning, training, audits and reviews.
3. Standard
3.1. Risk Management Process
The following requirements shall be met:
Oxiana facilities shall identify and prioritise risks and/or hazards and assess their risks/opportunities according to the Oxiana Team Based Risk Assessment Methodology (Guideline IMS.01).
Risks shall be documented in a facility risk register.
People who facilitate risk assessments shall have risk facilitation experience.
A preliminary hazard analysis (PHA) is required when a new job, new process, new equipment, new chemical or additional exposure occurs. (Refer to IMS Change Management Standard IMS 017). Action must be taken when the PHA identifies unacceptable levels of risk.
Where tasks are risk rated high or extreme, mitigation plans shall be developed and implemented as a priority.
3.2. Risk Register
The content of the risk registers shall be reviewed and updated annually and incorporated into the setting of objectives and targets and the development of continuous improvements plans.
Oxiana facilities shall prepare and maintain a risk register with at least the following elements:
Document No & Title: OXR--IMS-STD-002 – Risk and Opportunity Management
Prepared By: E. Barber Print Date: 04/01/18 Version No: DRAFT
Reviewed By: Issue Date: 14-SEP-06 Review Frequency: 24-MONTHS Approved By: Page No: 1 of 4 UNCONTROLLED COPY. Printed document may not be current issue. The latest version of this document is available on the intranet as a “read only” file recorded by the Document No. Standard IMS.02 Risk and Opportunity Management
OXIMS Integrated Management System Standard
A description of the risk;
The likelihood and consequence;
Existing and effective physical, system and behavioural controls;
Person nominated as responsible for implementing the risk controls;
Short description of controls required;
The level of residual risk – the level of risk after controls have been implemented and verified as effective;
Final risk score
The priority for control of the risk based on risk rating;
Scheduled completion date.
For significant risks (high and extreme), the General Manager Operations shall
review the risk assessment and ranking;
report significant risks to Executive General Manager;
allocate adequate resources to ensure the risk can be satisfactorily
addressed; appoint a person responsible for the risk mitigation project;
review and endorse mitigation plans;
review progress until issue is satisfactorily addressed (i.e. residual risk is no
longer significant)
3.3. Action Planning
The significant (high and extreme) risks identified through risk assessment and PHA processes require development of an action plan that aims to mitigate risk to acceptable levels.
The plan should address the following factors:
Adequate scoping of the risk mitigation project;
Assessment and recommendation on methods to control risk (this may include
an options analysis and cost/benefit analysis);
Appointment of sponsor, accountable person, project manager and / or team
members, if a project team needs to be formally assembled;
Implementation plan, including project staging and scheduling.
Document No & Title: OXR--IMS-STD-002 – Risk and Opportunity Management
Prepared By: E. Barber Print Date: 04/01/18 Version No: DRAFT
Reviewed By: Issue Date: 14-SEP-06 Review Frequency: 24-MONTHS Approved By: Page No: 2 of 4 UNCONTROLLED COPY. Printed document may not be current issue. The latest version of this document is available on the intranet as a “read only” file recorded by the Document No. Standard IMS.02 Risk and Opportunity Management
OXIMS Integrated Management System Standard
A formal review process to monitor progress of risk mitigation projects and
verify that controls are appropriate.
3.4. Training
Key personnel shall be trained in risk management techniques, to enable the risk management process to be managed effectively;
Qualified and experienced facilitators are to be used to manage the assessment process.
All personnel are to be provided with basic training in risk identification and hazard management, relevant to their work place.
3.5. Audit & Review
Once a risk has been assessed and control measures are implemented, the operation shall assess the effectiveness of the controls to understand the residual risk and to verify that no new hazards have been introduced. The frequency of assessing the control effectiveness will be based on the risk profile and types of controls.
Periodic audits and reviews of extreme and high ranked risks shall be undertaken by personnel other than the process operator to ensure that control strategies remain current and effective. Whenever changes to the operation occurs a review of risk shall be completed (see Change Management Standard IMS 017).
Document No & Title: OXR--IMS-STD-002 – Risk and Opportunity Management
Prepared By: E. Barber Print Date: 04/01/18 Version No: DRAFT
Reviewed By: Issue Date: 14-SEP-06 Review Frequency: 24-MONTHS Approved By: Page No: 3 of 4 UNCONTROLLED COPY. Printed document may not be current issue. The latest version of this document is available on the intranet as a “read only” file recorded by the Document No. Standard IMS.02 Risk and Opportunity Management
OXIMS Integrated Management System Standard
4. References & Links to Associated Documents
# Description Author
1 OXims IMS Guideline: Team Based Risk Assessment Methodology
5. Document Control History
Version Date Description By Approved
0 14/09/06 Original Issue
Document No & Title: OXR--IMS-STD-002 – Risk and Opportunity Management
Prepared By: E. Barber Print Date: 04/01/18 Version No: DRAFT
Reviewed By: Issue Date: 14-SEP-06 Review Frequency: 24-MONTHS Approved By: Page No: 4 of 4 UNCONTROLLED COPY. Printed document may not be current issue. The latest version of this document is available on the intranet as a “read only” file recorded by the Document No.
