Posted By Phillipe
Anyone have a simple and straightforward risk management definition they care to share? How about this?

RM is dealing with anything that has the potential to cause loss, damage or harm to the business

Posted By Philip McAleenan
Phillipe,

As an alternative to looking for simple definitions, it can be conclusively demonstrated that the terminology, “risk management”, is self-contradictory.

By definition, “risk” is the possibility or likelihood of harm or danger. It is the absence of certainty, and in its place chance determines which of two or more outcomes are likely.

“Management” is the authoritative control of operations. If there is control of an operation, chance is removed and there is only one possible outcome, that which is established at the outset. If it is not known with certainty what the outcome will be, chance exists and any action is a gamble on the outcome being what is desired.

In practice, “risk management” posits an acceptable level of risk and proceeds to manipulate the circumstances to increase the odds in favour of non-injurious outcomes. Laudable, but ultimately, by accepting and acting on any level of risk we are gambling with the safety of workers.

The correct approach to safety in the workplace is to determine what the appropriate operational controls are and ensure that they are put into place.

Regards, Philip

Posted By Phillipe
Thanks David,

Top man, don't worry about the 13 pages, your post gave me an idea and it is being worked on as we speak

Phil