Certainty in risk intelligence
Process Risk Analysis
Process Risk Analysis has its roots in Process Safety Management (PSM), a regulatory requirement in several jurisdictions that requires high hazard industries to have arrangements to identify, assess and manage safety. However, the techniques can be applied to any risk arising from systematic delivery of a product or service. For example, it has been successfully used in the design of railway infrastructure and rolling stock, medical screening laboratories, and weapons testing.
The methodology considers each process step in turn and is designed to identify potential deviations in each step, whether these present a threat, how that might happen, and what controls are in place to prevent or mitigate it. The analysis also considers the impact “upstream” and “downstream” of each step and where a risk is unacceptable, new or modified controls are implemented.
Process Risk Analysis is typically applied in a workshop setting using drawings or diagrams of the process under consideration, design and operating data, and lists of potential deviations. Participants, between them, should have an understanding of all aspects of the process, with the workshop being led by an experienced facilitator.
Process Risk Analysis identifies undesirable outcomes and then systematically searches for potential causes. Through this analysis previously unrecognised risks, as well as pathways of contagion and interconnectedness, can be identified and mitigated.
How do we help?
Our team has previously led Process Risk Analysis studies and helped organisations develop and implement their own capability. Our support can include:
Developing process diagrams for subsequent analysis
Leading / participating in workshops
Designing control, monitoring and assurance strategies
Implementation support with remediation activities