Fundamentals of Risk Management from an Environmental Perspective. Cassandra M. Dillon, Systran / UTA ETI
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1 Fundamentals of Risk Management from an Environmental Perspective Cassandra M. Dillon, Systran / UTA ETI
2 Fundamentals of Risk Management from an Environmental Perspective Cassandra Dillon, MS,CESCO,SHEP,CSSM
3 Objectives What is Risk Management? What is your role in implementation of risk management principles? Why is important to look at Risk Management? Why is business continuity important?
4 Risk Management
5 Definition Risk Management ISO is simply defined as the effect of uncertainty on outcomes. Outcomes can have negative ramifications to a company's goals/objectives which can be seen with the degradation of a company's economic, environmental, safety and social structure.
6 Risk Framework Identification Assessment Prioritization In return these competencies help build world class companies which exhibit strong EHSS cultures and high returns on investments.
7 Identification The first step in the risk management process is to identify risks throughout the organization. Once the risks are identified, one must determine the severity and likelihood of an occurrence.
8 Identification
9 Risk Assessment
10 Risk Assessment In most cases, the risks that have the highest probability are handled first in the mitigation process. Furthermore, risk can be broken down into the categories of hazard, operational, and financial
11 Risk Control Techniques Avoidance Loss prevention Loss reduction Separation Duplication Diversification
12 Risk Financing Transfer Insurance Noninsurance risk transfer Hold-harmless (indemnity) agreements Retention
13 Business Case
14 Management Leadership & Commitment Participates in development of appropriate actions regarding environmental audits and inspection findings Participates in the investigation of environmental incidents. Participates to ensure disciplinarily process is enforced and consistent. Participates to encourage employee participation and promotes ethical behavior in regards to environmental practices.
15 S-M-A-R-T Goals Specific Measurable Actionable Realistic Time-oriented
16 Reasons for a Business Case Rank of Project Initiatives - value and relative priority compared to alternative initiatives Integrated Approach EHSS/ Operations / Quality Evaluate the company s capability to deliver the objectives and stated benefits Usually a company s dedicated resources are usually reserved for the projects that yield the highest return on investment Source Wikipedia
17 Business Case Project Proposal EHSS Projects integrated into budget How much money should we spend? (Payback) Why should we spend the money? (Benefits) Financial impact Pros vs. Cons
18 Business Case Establish baseline activities Outcomes for continuous improvement Activities incidents, spills and/or releases Indicators leading and lagging
19 Business Case Rate of Return Internal / External Payback Period- how long will it take to recover initial investment. Cost Avoidance
20 Environmental Performance Programs Companies can generate a Return on Investment from its Environmental Performance. Effective programs can minimize costs associated with workplace incidents and improve business performance. Lack of programs can impose a heavy cost/burden on a company.
21 Measuring Environmental Performance What gets measured, gets done What gets measured, gets managed
22 Return on Investment Ratio of the total cost to the total benefits gained = Total Benefits Total Costs Total Costs Payback Paid in Dollars and Lives
23 Direct and Indirect Costs Direct Occurs immediately as the result of a particular cause of incident/accident Indirect Cost that results from, but is not directly caused by the incident/accident
24 Direct & Indirect Costs
25
26
27 Continuous Improvement Raise the bar Goals increase in increments Benchmark other companies Shouldn t be proprietary
28 Business Continuity
29 Business Continuity Model Risk Manageme nt Emergenc y Response/ Preparedn ess Environmen tal Health & Safety
30 Business Preparedness Contingency Plans The Law SPCCC Hazardous Waste Classification OSHA Just the Right Thing to Do
31 Business Preparedness Contingency Plans The Law SPCCC Hazardous Waste Classification OSHA Just the Right Thing to Do
32 Summary Risk management is only as good as the people researching the possibilities and implementing the solutions. An organization's willingness to act can directly affect employee morale, economic stability and regulatory compliance.
33 Questions
34 Thank you Cassandra M. Dillon Compliance and Training Advisor
35 Please remember to fill out the conference survey. This will be sent to you by . Conference participants are eligible for up to 13 contact hours 1.3 CEUs. Forms will be available after lunch on Wednesday at the registration are. Return completed forms at the conclusion of the conference.
36 Fundamentals of Risk Management from an Environmental Perspective Cassandra M. Dillon, Systran / UTA ETI
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