HB 89-2012

Provides guidance on good practice for assessing risk, as part of a risk management process and to assist in making decisions under conditions of uncertainty. Includes an overview of a range of risk assessment techniques and guidance on their selection and implementation.

This Handbook provides general guidance to assist in the selection and application oftechniques that can be applied to various risk assessment activities. It provides an overviewof the purpose, general nature and limitations of 30 techniques which can be used whenassessing risk.Depending on the purpose and circumstances of the study, these techniques can be applied to the following:- Identifying risks.- Analysing risks.- Evaluating the significance of risks.Risk assessment carried out in accordance with this Handbook forms a part of and contributes to an organization’s risk management activities as described in AS/NZS ISO 31000.The intended audience includes those who need to identify, analyse or evaluate risks and those who specify requirements for risk assessment.The Handbook is not a detailed guide or tutorial as to how each technique should be carriedout, e.g. some techniques require mathematical skills and others, such as the design ofquestionnaires, require considerable skill and experience for the outputs to be valid. For thisreason some advice is provided as to where further information can be obtained. TheHandbook does not include references to all available techniques, and omission of atechnique from this Handbook does not mean the technique is not valid. The fact that a technique is applicable to a particular circumstance does not mean that it should necessarily be applied.This Handbook is not intended for certification, regulatory or contractual use.

First published as HB 89 2012.