Risk Assessment & Management

At VDIS, our team of experts conducts comprehensive risk assessments to identify potential hazards, evaluate the likelihood and consequences of failures, and prioritize mitigation measures. Based on this analysis, we implement strategies to reduce or eliminate risks, including safety controls, contingency plans, and emergency response procedures.

Key Steps in Risk Assessment

1. Identify Hazards

Identify potential hazards that could threaten the organization’s operations, assets, or objectives.
Hazards may be natural or man-made, internal or external.

2. Assess Likelihood

Determine the likelihood of each hazard occurring by analyzing its frequency, the conditions under which it could occur, and the level of organizational control over the hazard.

3. Assess Impact

Evaluate the potential consequences of each hazard on operations, assets, or objectives, considering the magnitude and duration of the impact.

4. Evaluate Risk

Assess the level of risk by combining likelihood and impact to determine whether the risk is acceptable or if further action is required.

5. Evaluate Risk

Create strategies to mitigate or manage identified risks, such as:
- Implementing controls to reduce hazard likelihood.
- Minimizing the impact if the hazard occurs.

6. Monitor and Review

Continuously monitor the effectiveness of risk mitigation strategies.
Periodically review risk assessments to ensure they remain current and relevant.

VDIS Expertise in Risk Assessment & Management

Comprehensive Risk Assessments

VDIS coordinates and facilitates risk assessments at all levels, including:
- - Project-level risk assessments.
  - Controls integrity risk assessments.
  - Critical single-scenario risk assessments.
We utilize common risk assessment techniques (qualitative, quantitative, risk registers) practiced by major operators and contractors.

Alignment with Industry Standards

VDIS reviews existing risk assessments to ensure compliance with governing industry standards such as ISO 31000 and ISO 27001.
We evaluate the distribution and application of risk assessments in the field, focusing on hazard scenario understanding and the implementation of preventative measures by the workforce.

HAZID and Gate Processes

Assistance with HAZID (Hazard Identification Methodology) and other gate processes integral to risk management

Safety Case Development

Support in creating Safety Case structures where risk assessment is a primary element.
This includes aligning with local regulatory requirements or meeting stakeholder expectations for licensing purposes.

By partnering with VDIS, organizations can ensure a robust approach to risk management that enhances safety, minimizes disruptions, and aligns with industry best practices.