Developed in 2007, Barrington’s Global Risk Management Program is designed to work from the Board and Executive Team down to the remainder of the organisation. The purpose of the Program is to be proactive; identify risk profile, reduce risk exposure, and mitigate risk for the organisation. Through the reduction of accidents, injuries and fatalities, the Global Risk Management Program returns significant financial benefit to the organisation, it’s shareholders and stakeholders.

Global Risk Management Program consists of three phases. Once the risk profile and treatment of the risks is agreed upon by key stakeholders, the focus is how the implementation is rolled-out in the organisation.

Phase 1: Risk Management and Diagnostic Suite

  1. Establish the organisational context
  2. Identify the organisation’s risk profile
  3. Analyse risk: What are the risks for the organisation? Why are they risks?
  4. Evaluate risk: Control through systems; Management; independent means
  5. Risk Strategy: treatment of risk

Phase 2: Present Findings to the Board and Executive Team

  1. Decide upon implementation strategy

Phase 3: Utilise Best Practise

  1. Coordinate risk activities
  2. Train and educate
  3. Implement risk strategies
  4. Monitor trends and changes in risk environments
  5. Provide resources and reports

The key success to Barrington’s Global Risk Management Program is that the Board and Executive Team take ownership of the program. This allows for better strategic and corporate awareness. The outcomes of that include an organisation’s ability to:

  1. Reduce accidents, injuries and fatalities, and the associated costs of WorkCover claims and insurance
  2. Reduce delays, absenteeism and staff turnover, and thereby improve productivity and employee morale
  3. Improve an organisation’s corporate profile
  4. Improve service delivery, asset protection and risk identification (and therefore improve development opportunities)