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Aligning the organisation to effectively manage risk
  1. P G Furst*
  1. Correspondence Liberty Mutual Insurance Company, 12657 Alcosta Bulevard San Ramon, CA 94583, USA

Abstract

The realities of globalisation and associated business risks have taken center-stage and innovative firms have to address this to stay competitive. All organisational systems and procedures harbour risk, which includes safety. Therefore the traditional approaches to the management of safety is not good enough any more.

One way to achieve this is through an integrated operational risk management approach which is a methodology of identifying and eliminating risk from the construction process. The key to its success is its embedment into the operations of the contractor, as well as the project delivery process. Risk identification, assessment and management have an important role to play in the construction business, which is inherently high risk. Safety folks traditionally deal with hazard rather than assess risk. This to helps foster the separation and isolation of safety from operations.

Innovative business thinking requires the linkage of all the business operations, and an integration and alignment of all systems, processes and procedures within the business. Safety can only, become truly effective if it is integrated into the fabric of the management systems utilised within the organisation. In this session we will explore ways that risk assessment and safety operations can be integrated into the overall management systems of the organisation, as well as the project delivery process, thereby improving quality and efficiency, cutting costs as well as improving profits.

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