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iQSMS Risk+ for Reports in Three Steps
iQSMS / August 21, 2024
Data-driven risk management requires a seamless connection between reported incidents and proactive risk assessments. iQSMS bridges this gap, allowing you to leverage your iQSMS reports to refine your Risk+ register. This article outlines the three key steps for using Risk+ for the risk assessment of reports in the iQSMS Reporting Module.
Step 1: Identifying Hazards, Failing Controls and Consequences
As part of the iQSMS Risk Management Module, iQSMS Risk+ enables you to create proactive risk assessments. These assessments then seamlessly integrate with the iQSMS Reporting Module. With Risk+, you can assess any hazard or incident report collected with iQSMS to directly refine your Risk+ register. This powerful connection ensures your risk assessments reflect current operational realities, allowing you to proactively identify and address potential hazards.
AI-Powered Hazard Identification: iQSMS takes advantage of the innovative Ai Co-Analyst. This AI tool automatically analyzes incoming reports, highlighting potential hazards and streamlining the identification process.
Targeted Risk Assessment Selection: Using the insights from the Ai Co-Analyst, or gained through manual review, designated iQSMS users can assign a relevant Risk+ assessment to each report. This predefined assessment should encompass the area and activity associated with the reported incident.
Hazard & Control Analysis: Within the assigned Risk+ assessment, users can pinpoint the specific hazard or failing control highlighted by the report. This ensures a clear connection between the reported incident and the underlying risk factors.
Consequence Evaluation: The report details can be used to evaluate the potential consequences of the identified hazard or failing control. This aligns the risk assessment with the real-world impact of the reported incident.
There’s a new Hazard? Streamlined Risk+ Update
If the report identifies a previously unknown hazard, iQSMS offers a direct link to your Risk+ team. This ensures immediate notification and facilitates the creation of a new Risk+ assessment specifically addressing the newly discovered hazard.
Step 2: Determine Risk Matrix Value
iQSMS uses a customizable risk matrix to assign a risk value to each report. Utilizing the details from the report and the assigned Risk+ assessment, users can record a probability/severity value directly on the matrix.
Step 3: Assign Residual Risk at Report Closure
Once corrective actions have been implemented and the report is closed, iQSMS allows the assignment of a residual risk value. This value reflects the remaining level of risk after newly implemented controls are taken into account. Comparing the initial and residual risk values provides valuable insights into the effectiveness of the corrective actions, enabling you to further refine them if necessary.
By integrating Risk+ assessments into your iQSMS reporting process, you gain a powerful tool for:
- Proactive Risk Management: Reported incidents directly inform your risk register, ensuring it reflects current operational realities.
- Data-Driven Decision Making: Your reports’ risk assessment information in iQSMS provides a clear quantitative basis for prioritizing safety initiatives.
- Continuous Improvement: Monitoring residual risk allows you to assess the effectiveness of implemented controls and adapt them accordingly. If further mitigation is required, the iQSMS Reporting Module supports tracking these actions as well.
Going beyond reactive risk management requires a powerful SMS. iQSMS Risk+ empowers your organization to use reported incidents to refine your risk assessments and to proactively identify and address potential hazards, which ultimately supports you in creating a safer and more efficient working environment.
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