Typically a risk assessment is requested after a failure or loss of some sort has occurred. Examination following the loss allows us to blend our “root cause investigation” with the risk assessment, which provides a protected and high valued “work product” if you are legally represented.
We highly recommend that you take the proactive approach and not wait for the loss by taking a deep dive examination into the operating risks of your business when “times are good”. Our risk assessments are tailored to your specific business, compliance and legal needs. These assessments are made to order by you, the client, who decides if you want a comprehensive “wall-to-wall” assessment or if you want to focus on a specific area, process or exposure of your operation or business.
Our risk assessments contain three primary components:
1. Risk & Hazard Identification
2. Severity & Probability Evaluation
3. Risk Mitigation or Loss Exposure Reduction.
Our Approach
We practice a “Holistic” Approach to include a business needs and cultural assessment, process defining and identification of variables and challenges. We look for operational driven vulnerabilities that lead to liabilities and ultimately to loss. Our mitigation and remedial measures are a blend of proven risk assessment methodologies and real life experiences.
Our Risk Assessment Outline:
- We meet with Client for an understanding of objectives, methods challenges\opportunities, timeline and cost estimate.
- We collect and analyze your loss history and relevant metrics and determine the appropriate measurement tool(s) such as a “risk matrix”.
- We interview a representative management\employee sample; custom survey of shift leaders, supervisors, managers and employees for their input.
- We interview key customers and upper level operational management for their input.
- We assess the targeted function(s) and expectation of products and services.
- We tour and access the operation and document all findings in alignment with the (3) three assessment components.
- We remain open and flexible for new or unexpected challenges and ideas from the clients.
- We present a complete report with findings and recommendations in a closing conference with the client.
- We provide guidance and consultation to the client for the implementation of the process improvements and the monitoring of progress.