Every operator already practices some form of safety risk management; however, most are not in compliance unless they have a "formal system" of hazard identification and formal processes to control risk to acceptable levels.
The purpose of formalizing safety risk management is to focus on areas of greatest operational risk from a safety perspective. Most businesses primarily focus on economic risk. Those not successful at safety are generally not successful economically.
Satisfying Part 5's SRM component demonstrates that your organization is committed to evaluating operational risk and reducing identified risks to as low-as-reasonably practical (ALARP).
Safety Risk Management Focuses on Design Factors
An easy way to differentiate the SRM component from the other three SMS components is to remember the word "Design."
For your SMS program, focus on a design to incorporate risk controls into
- products, and
When necessary, you will need to redesign controls where existing ones are not effectively mitigating risk to ALARP.
The basic elements of safety risk management include:
- System description and task analysis;
- Hazard identification;
- Risk analysis and assessment; and
- Evaluating and managing risk controls.
Safety Risk Management Performance Objectives
Below are the basic performance objectives that FAA inspectors will expect when reviewing your SMS program:
- Develop processes of your systems' critical characteristics and operational environment
- Apply above processes to identify hazards, analyze and assess risk, and design risk controls
- Analyze systems, operations, and operational environment to understand critical design and performance factors, processes, and activities to identify hazards
- Identify and document operational hazards likely to cause death, serious physical harm, or damage to equipment or property to determine associated level of risk and risk acceptability
- Analyze severity and likelihood of potential events associated with identified hazards
- Identify risk factors associated with unacceptable levels of severity or likelihood
- Assess identified hazards' associated risk and define risk acceptance procedures and levels of management accountable for safety risk acceptance
- Design and implement identified hazards' risk controls where unacceptable risk exists to reduce risk to acceptable levels
- Analyze and document potential for residual risk and substitute risk before implementing risk controls