What Risk Management Means

Risk Management is described in Australian Standards as:
"The culture, processes and structures that are directed towards realizing potential opportunities whilst managing adverse effects" [from AS/NZS 4360:2004 - Risk Management].

This involves:

  • eliminating or minimising a threat before damage, accident, or injury occurs
  • in the event of an incident, recovering as quickly and cost effectively as possible
  • should injury be involved, ensuring the most effective injury management programs are in place.