Risk can be defined as the product of two factors: the probability of incident and its consequences. The identification of risks, their mitigation and the management of any residual risks is a key business process. In general, a wide range of risk management tools are available, ranging from qualitative to quantitative methodologies. The selection of the appropriate tool is an important consideration, which is influenced by importance of the risk, best-practice guidelines and legal requirements.
We have advised a wide range of clients in the management of risks, and can offer a number of professional services to support intelligent decision-making for the whole risk control cycle. This includes economic assessments of the likely benefit to cost ratios of alternative investments to enhance safety. Please contact us today to discuss how we can assist you to manage your risks.