OPERATIONAL RISK MANAGEMENT
Global Safety Index Advisory Board member, Professor Jim Joy, has been in and around risk management for decades. Jim has a long CV of working mostly within the Mining Sector around the world in how to better manage risk management. Jim was one of the authors of the International Council on Mining and Minerals (ICMM) Critical Control Management Guide published in 2015. Since that time Jim has been at the forefront of the application of Critical Control Management (CCM) and has been able to experience first hand the challenges and opportunities for effective implementation of CCM.
From this experience of what Jim terms ‘Operational Risk Management’ (ORM) Jim has written a series of short articles, offering a perspective on the related needs, opportunities and challenges of ORM. As Jim says, ‘…this is one person’s perspective, influenced by experience and bias, but the objective is simply to stimulate thinking.’
These articles discuss the potential step change in ORM from current approaches that may have been developed in the 20th century to a newer overt focus on the systematic application of quality controls and, following that phase, a move to effective critical control implementation, verification and assessment of effectiveness.
Anyone interested in understanding more about Risk Management, regardless of industry sector, will I’m sure gain much from reading these articles.
- Article 1 – Evolving Operational Risk Management in the Mining Industry: Welcome and introduction to the series
- Article 2 - A short history of Operational Risk Management in Australian mining – one perspective
- Article 3 - Key words and concepts in ORM - getting the thinking and conversations consistent
- Article 4 - Making the argument - risk is all about controls and their effectiveness
- Article 5 - Good practice Operational Risk Management (ORM)– 4 layers with control focused risk assessment methods
- Article 6 - It’s a Journey – using journey models to analyse and plan ORM improvements
- Article 7 – Overview of Critical Control Management and a few of its challenges
- Article 8 – Identifying critical controls to meet objectives and selection criteria that considers cruciality, measurability and indicativeness
- Article 9 – Considering ‘acts’ as critical controls and the challenge of their measurability
- Article 10 – Challenging critical control performance requirements
- Article 11 – Establishing the verification process – possibly the most challenging part of CCM
- Article 12 – Linking the Critical Control performance requirements to the design of the verification process
- Article 13 – Defining accountabilities and the reporting process
- Article 14 –Continuous improvement and learning opportunities with Critical Control Management (CCM)
