Gas Distribution Network Safety and Reliability Measures Workflow

Conduct Annual Risk Assessment

Type: Fill Checklist

This business workflow step involves conducting an annual risk assessment to identify potential threats to the organization's operations, assets, and reputation. The process commences with the collection of data on historical incidents, near misses, and emerging trends. A thorough analysis is then performed by experts in various fields to determine the likelihood and impact of identified risks. The results are presented to senior management for review and approval. A risk mitigation plan is subsequently developed to address high-risk areas. This includes implementing controls, such as security protocols and compliance measures, to minimize potential losses. The organization's key stakeholders are informed of the findings and any necessary actions required from them. An action plan is also created to track progress and ensure that risks are continually monitored throughout the year.