Publications : Online Learning

Evolving Operational Risk Thinking and Practices Toward a Focus on Effective Controls

Online Learning
Published in 2018

Presenter: Jim Joy, Principal, Jim Joy & Associates Pty.

Jim has worked for over 30 years in the global minerals industry in the development of operational risk management. From 1998 to 2011, he was Professor and Director of the Minerals Industry Safety and Health Centre (MISHC) at the University of Queensland in Australia. Jim has had high level advisory roles for WMC, BHP Billiton and Xstrata, and until from 2007 to 2011 was the Anglo American Chair of Risk Management.Jim’s work has been recognised by the AusIMM the UK Institute of Chemical Engineers, the International Mining Technology Hall of Fame and, in 2018, the Canadian Institute of Mining. Recent work includes primary authorship of the 2015 ICMM guide on Critical Control Management and subsequent consulting with several global clients on the approach.

Webinar Overview:
Risk is often discussed and analysed by considering likelihood and consequences of an unwanted event. While this approach is theoretically correct, it is often inaccurate. Decision makers must know (and understand) important controls to gauge the risk. Without understanding the effectiveness of important controls, our estimates of likelihood and consequences are virtually guesses. Site level thinking about risk can be focussed on ‘getting it in the green’ cells of a risk matrix. The amount of risk is directly related to the effectiveness of controls intended to prevent or mitigate an unwanted event. However, focussing on controls requires an evolution of current risk management thinking and practices. This webinar will expand on reasons for the needed change and provide an approach to starting the evolution of site operational risk management to a control-based approach.

Duration: 00:45:37

PD Hours: 1

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