Risk Management

Queensland Fertilizer Operations commenced the implementation of the Integrated Operational Risk Management (IORM) process in 2003.

Risks have been identified, quantified and recorded in the IORM risk register (an online web based risk assessment and recording tool). Risks were quantified in terms of their potential to cause loss of life and their potential financial impact on the operation.

The information was used to determine how to reduce identified risks. Risk management focused on either reducing the frequency of risk events or reducing the consequence that the risk posed. Actions focused on either the adoption and improvement of current control routines or the identification of plant upgrades. To ensure that agreed risk management plans are considered in all site-planning processes, a formal link has been established between the IORM process and site capital and operational expenditure planning processes. Documented risk management plans are created as part of the planning process.

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