Risk Management

The purpose of Risk Management is to minimize threats and increase opportunities by assessing risk with respect to personnel, environment, financial impact, asset, production capacity, reputation, quality, schedule, security and barriers. Risk management increases the likelihood of the organization achieving its objectives and facilitates continual improvement of the organization.

Hazard Identification Study (HAZID)

Hazard Identification Study is the process of identifying hazards in order to plan for, avoid, or mitigate their impacts and is the first stage of the risk assessment process. To ensure the process is efficient and will deliver the desired outcome it is critical that the scope, boundaries, key stakeholders, risk matrices and any event trends are identified prior to the facilitated hazard identification session being undertaken.

The purpose of a HAZID session is to identify all hazards associated with the business activities therefore the functional and operational areas of the business should be identified and broken down within the risk assessment template and separate assessment sessions should be completed. This will ensure the process is efficient and effective and will involve relevant stakeholders who can actively contribute value.

The output of a successful HAZID session is a comprehensive report which outlines the key hazards associated with all business activities.

Polytec’s experience in delivering well organised HAZID and similar studies will ensure a thorough identification of hazards and safeguards at an early stage in the design of a facility.

Hazard and Operability Study (HAZOP)

A Hazard and Operability Study (HAZOP) is a qualitative, team-based technique for hazard identification. It was initially developed to analyse chemical process systems, but has since been extended for use in other ‘high risk’ systems and is particularly useful in analyzing complex operations and activities.

A HAZOP study should be led by an experienced facilitator as part of a structured team, with specific roles and is based around the use of ‘guide words’. It involves a structured and systematic examination of either a planned or existing operation, in order to identify and evaluate problems that may represent risks to employees and others who may be affected by the work.

The purpose of a HAZOP is to assess the hazard potential of any operation outside the design intention or the likelihood of potential malfunction of individual items of equipment and their consequential effects on the facility as a whole.

Polytec can work with you to ensure an effective HAZOP takes place that provides the most penetrating design review, covering safety, environment, operations and maintenance.

Project Risk Management

Risk management creates value and is an integral part of all organizational processes and decision making. It supports more effective decision making through better understanding risk and encourages a high standard of accountability at all levels in the organization. Risk management explicitly addresses uncertainty. It is systematic, structured and timely. Risk management is tailored, transparent and inclusive, and is based on the best available information. It takes human and cultural factors into account, is dynamic, iterative and responsive to change. Risk management increases the likelihood of the organization achieving its objectives and facilitates continual improvement of the organization.

The risk management process in Polytec is based on the international standard NS-ISO 31000 – Risk Management, Principles and Guidelines.

The risk management process is a systematic application of management policies, procedures and practices to the activities. The process of risk management is an iterative process for continuous improvement throughout the entire lifecycle of a project or development phase.

A Risk Management Tool is established by Polytec to manage the process of Risk Management. The Tool contains a Risk Register which allows for recording of all identified risks with necessary risk information and risk handling such as schedule validity, relevant discipline and activity, risk ranking, actions to be taken, responsible persons, due dates, strategy for risk treatment and manageability.

Quality & Risk Management

Quality Risk Management is the set of leadership, business process, culture, and technology capabilities an organization establishes to create a collaborative approach for identifying, quantifying, and mitigating product, operational, supplier, and supply chain risks that can impact quality.

The quality risk management process in Polytec is based on the international standard NS-ISO 9001 – Quality management systems – Requirements.

Polytec offers counseling and support for costumers in developing risk management systems.