Risk Management

Risk management offers an integrated approach to the evaluation, control and monitoring of hazard, opportunity and control risks. It forms a vital role in any company, regardless of its size. There are ten operational elements that make up the major risk areas, namely: premises, product/ industry sector, purchasing, people, procedures, protection, processes, planning, performance and policy. We recognise that each element represents its own risks that interact with, and impact on, your company, whether negatively or positively. We understand that continuous monitoring and frequent reporting are essential elements of a thriving risk management strategy. Furthermore, we provide transparent, timely, and accurate reports to keep you informed about the current risk landscape. This allows for informed decision-making and the ability to take corrective actions as necessary.

ISS employs a curated risk assessment strategy to ensure that any risks are dealt with swiftly and without fallout. We begin by identifying the hazardous conditions of the risk, thereafter we consider what this threat might be and how serious the effects of exposure may be. Once that is established, we evaluate the likelihood that any harm, injury or damage may occur, taking into account existing control measures. We then make experienced and informed judgements regarding the adequacy of controls in place. Finally, we monitor and re-evaluate after an appropriate time-scale. Essentially our risk management approach and process involve the systematic application of management policies, procedures and practices to the task of communicating, consulting, establishing in the context, identifying, analysing, evaluating, treating, monitoring and reviewing.

Our specialists ensure that risk management analytic framework is integrated into your organisational systematic processes. We establish clear policies, roles, and responsibilities, ensuring that every member of your organisation understands their role in managing any risks that arise. By focusing on these key areas, we ensure that your business is well-prepared to handle any challenges. Our approach not only protects your assets and reputation but also empowers you to achieve key performance indicators and production targets with absolute confidence. We ensure compliance, assurance, decisions, efficiency, effectiveness and efficacy within your enterprise.

  • Risk Mitigation
Risks are a combination of the probability of an event and its consequence. Risk mitigation is a critical consideration for any enterprise. Effectively managing potential risks and challenges significantly reduces the need for crisis control, promoting smoother operations and strategic alignment. At ISS, we recognise the importance of proactive risk management and offer comprehensive solutions tailored to your business needs. We ensure that our management tactics deliver improved information so that strategic decisions can be made with greater confidence, thereby eliminating or severely decreasing the potential for uncertainty.
A hazard, risk or uncertainty has the ability to impact the mission, strategy, projects, routine, objectives, core processes, key dependencies and the delivery of stakeholder expectations. It can impact the fulfilment of corporate objectives. There are three potential harms that we identify with regard to foreseeable risks. Specifically, slightly harmful (inconvenient loss and little impact on other elements), harmful (not easily or immediately recoverable, has an impact on other elements of the business and there is some potential public embarrassment) or extremely harmful (severe impact on financial viability or the business, far-reaching impact of bad publicity with the potential for non-recoverable loss). Our aim is to control risks, measures, time-scales, physical, organisational, procedural and behavioural elements in order to intercept and recognise risks before they can cause harm.
  • Uncertainty Identification
A risk is defined as an uncertainty of outcomes. Control risks are the most difficult to identify and determine and as a result control risks generate uncertainty. Uncertainties are markers of risk assessments when insufficient data is available to support the use of specific extrapolation factors. Risks like these represent a deviation from the required or expected outcome. While uncertainty or control risks are an inevitable part of undertaking a project, we emphasise the identification of uncertainties within your organisation and its operational systems. Following this identification of an uncertainty, we conduct a thorough analysis of these uncertainties to define the associated risks. We identify the inherent level of risk that is apparent. Upon detecting these risks, we implement strategic risk mitigation and control measures while bolstering operation tolerance strategies to reduce their severity, transforming risks into manageable or even avoidable challenges.
Our assessment format includes a risk assessment, analysis, description and estimation. Thereafter, we complete a risk evaluation and report, which identifies the threats and opportunities of the potential hazard. After evaluation is complete, a decision is made, and then we move into the risk treatment phase. After the risk has been treated, we perform residual risk reporting and further monitoring.