We conducted a risk assessment for the management team at an oil refinery. The primary objective was to identify risks to the refinery as a business and develop an agreed priority listing of them. A subsidiary objective was to expose the management team to the risk management process. The management team wanted confidence for themselves and their major shareholders that the main risks to the business had been identified and were being managed well.
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Broadleaf Capital International is a specialist risk management consultancy. Our expert team brings decades of experience, leading methods and a deep understanding of risk and its management. We operate around the world.
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Grant Purdy has worked for a number of years with the International Federation of Accountants (IFAC) helping them with guidance on risk management. Grant made a substantial contribution to the thought paper 'Bolt-on to Built-in' that has just been published by IFAC. The paper makes the point that risk management should never be implemented in isolation; it should always be fully integrated into the organization’s overall system of management. This system should include the organization’s processes for good governance, including those for strategy and planning and making decisions in general. The paper includes a useful model for integration.
Dr Stephen Grey made a presentation on recent developments in qualitative risk analysis to the Melbourne Chapter of the Project Management Institute on 29 April 2014. It covered 3 topics; recent developments in approaches to risk management, the benefits a risk assessment can bring to a project team outside of the core risk management activity, and what we can learn from the relationships between risks.