Proactive Risk Management with iQSMS

iQSMS    /    May 2, 2024

Since the release of the Risk+ functionality for the iQSMS Risk Management Module, our users have been very busy creating and updating Risk Assessments in iQSMS. We are proud to see that the function is put to good use!
In this article, let us revisit the critical role of proactive risk management and dive deeper into the capabilities of iQSMS Risk+.
The Necessity of Proactive Risk Management in a Dynamic Industry
Proactive risk assessments are the cornerstone of a robust aviation safety culture. While meticulous maintenance, highly trained crews, and safety protocols form a strong foundation, the ever-evolving nature of the industry demands a forward-thinking approach. Historically, risk assessments emerged as a reactive response to accidents, with investigations informing future practices. Proactive risk management goes beyond simply reacting to incidents. It’s a continuous cycle of identifying potential threats, assessing their severity, and implementing mitigation strategies before they escalate into problems.
However, traditional methods of risk assessment, often rooted in their reactive past, fall short in today’s dynamic environment. Time-consuming assessments, coupled with outdated information and infrequent revisions, leave organizations exposed to unforeseen risks.
By automating workflows, centralizing data, and facilitating continuous updates, the administrative work can be minimized. Provided with the right tool, the risk assessment team can then focus on what truly matters: conducting in-depth analyses of potential risks, implementing targeted mitigation strategies, and rigorously reviewing and adapting these assessments and controls on a regular basis. This cycle of identification, mitigation, review, and adaptation forms the bedrock of a proactive safety culture.
Effective Risk Management with iQSMS Risk+
The iQSMS Risk Management Module, with its iQSMS Risk+ functionality, offers such a comprehensive solution for proactive risk management. We want to equip our customers with the right tool to implement their proactive risk assessment strategies.

With Risk+ Assessments, iQSMS streamlines the entire process, from initial identification to mitigation implementation and ongoing assessment review. With the Risk+ Register, you have a complete overview of all risks and their controls and planned mitigations.

In each Risk+ Assessment, all Undesirable Events and their Hazard(s) and Consequence(s) can be identified and listed. In addition, all Avoidance and Recovery Controls involved in a certain risk scenario are documented. For each risk, the initial and residual risk level is selected from your organization’s risk matrix. If necessary, mitigations can be added and scheduled with their respective due dates and assigned to Responsible(s) Department(s). Regular reviews for each assessment can be planned, to always keep your assessments up to date.

Creating Risk+ Assessments:

Risk+ empowers designated Risk+ Assessors to efficiently create comprehensive risk assessments. This allows for the identification of all known hazards and the thorough documentation of existing control measures.

Mitigations & Responsibility Assignment:

Risk+ facilitates the addition of mitigations to address identified hazards. Clear assignment of responsibilities, including assigning individuals or departments and setting due dates, ensures accountability.

Verification & Regular Review:

Upon implementation of mitigations, Risk+ allows assessors to review and verify their effectiveness. This ongoing evaluation process ensures that implemented controls are functioning as intended and effectively mitigating the associated risks.

The Risk+ Register serves as the central source of risk related information. Risk data displayed in the register can be utilized to prioritize safety initiatives and optimize resource allocation, ensuring that resources are directed towards areas that pose the greatest risk. Furthermore, risk assessments published on the register can be used to evaluate reports submitted through the iQSMS Reporting Module, allowing to further connect your Risk+ assessments with real-life data.

Key benefits of iQSMS Risk+

  • Cooperative Risk Management: Risk+ supports collaboration across departments, ensuring all stakeholders are involved in the risk assessment process.
  • Active Monitoring: iQSMS Risk+ allows for continuous monitoring of the effectiveness of implemented safety controls, allowing to identify areas for improvement.
  • Centralized Risk+ Register: All critical risks and their mitigation statuses are displayed in a central register, providing a clear overview.
  • Continuous Risk Assessment Improvement: Risk+ facilitates regular reviews and revisions of risk assessments, ensuring they remain relevant and accurate.

Get in touch with us today and find out how iQSMS can best support your organization!

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