ICAO defines Risk Management as:
“The identification, analysis and elimination (and/or mitigation to an acceptable or tolerable level) of those hazards, as well as the subsequent risks, that threaten the viability of an organization.”
Exposure to risk is a fact of life in aviation, there is no escaping it. How well we as an industry manage that risk is what determines how safe we are.
And managing risk effectively starts with a Risk Analysis (RA).
As a proactive task, a Risk Analysis identifies, documents and mitigates the hazards, as well as their associated risks, faced in day-to-day operations to an acceptable or tolerable level.
When quantifying the true cost of risk, consideration must be given to not only the “direct” costs associated with exposure to the risk, but must also include "indirect" costs as well, as quite often, those “indirect” costs can exceed “direct” costs by as much as 20 times.
For many companies, however, the internal resources do not exist to accurately identify and evaluate hazards and their associated risks; much less determine their potential impact on company profitability.
When you choose QAS Aviation International Ltd. to conduct your Risk Analysis, you receive the benefit of a fresh perspective, offering an honest and objective assessment of the hazards and risks present throughout your operation.A Risk Analysis is a primary component of an organisation’s Risk Management strategy, but more importantly, is one of the cornerstones of a Safety Management System.