Risk analysis is the cornerstone of the whole process of risk management and aims to offer a portrait of an organization’s vulnerability. This step provides a comprehensive vision of the organization’s needs of in terms of prevention, preparedness, response, recovery, communication, and management, making it possible to prioritize plans, mechanisms, strategies, and the tools to be implemented.
Risk analysis assesses the likelihood that threats will occur and have an impact on employees, the general public, the environment, infrastructure, and an organization’s image and finances, while considering preventive measures and existing protection.
The category of risk analysis notably includes hazard studies, using methods such as HAZOP, FMEA, Fault Tree, What-if? , Checklist, etc. Hazard studies make it possible, among other things, to identify standardized and alternative accident scenarios and to model their consequences, as strongly recommended by the Canadian Environmental Protection Act (see in this respect the section regarding the environmental emergency Plan).
A vulnerability analysis can also be performed. It consists in analyzing the risks an organization may face when considering its ability to respond to the consequences of a given situation.
Therefore, the analysis offered by Multi Risk International will help you make informed decisions to prevent a major disruption and to prepare your organization should such a disruption occur.
We offer a risk analysis process including the following six steps:
- Hazard identification
- Likelihood assessment
- Impact/consequence assessment
- Risk level identification
- Identification of preventative measures
- Identification of mitigation and protective measures
These steps will provide you with a complete understanding of your organization’s needs with respect to risk management, leading to the following steps: prevention, emergency preparedness, emergency response, recovery, and crisis communication management.
With an efficient approach suited to your needs, our team will help you to:
- Reach your risk management objectives on time and on budget
- Carry out a risk assessment efficiently according to international best practices
- Draw up a clear, precise and realistic plan of action
Looking for more information? Please feel free to contact us. Our team will provide you with detailed information and offer your organization solutions tailored to its needs, thus increasing its resilience and adaptability.
Take advantage of the best advice in the field for a proactive approach in the event of a crisis.