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There is a lot of crossover between risk management and assurance. The risk management process can be broken into the following phases:

  • Identifying the things that could go wrong (hazards)
  • Working out how likely they are to cause an accident or incident
  • Establishing what the potential consequences could be
  • Choosing and implementing the most appropriate safety controls
  • Monitoring the effectiveness of those controls and upgrading as required.

The first four bullets require processes, procedures and tools in place in order to be carried out. The last bullet - by demonstrating their effectiveness - is the contribution to risk management that your assurance programme delivers.

For more information, see our Risk management page.