Definitions

Define 
Balanced Score CardBalanced Score Cards (BSC) allows organisations to look at their business based on the following four important perspectives.

Financial perspective – how do we look to shareholders?
Internal business perspective – what must we excel at?
Innovation and learning perspective– can we continue to improve and create value?
Customer perspective – how do customers see us relative to time, quality, performance and service, and cost?
Behaviour Based SafetyThe application of science of behaviour change to real world safety problems.

or

A process that creates a safety partnership between management and employees that continually focuses people’s attentions and actions on theirs, and others, daily safety behaviour.
Environmental, Social and GovernanceEnvironmental, Social and Governance (ESG) refers to the three central factors in measuring the sustainability and ethical impact of an investment in a company or business.
HazardSource with a potential to cause injury and ill health.

{Ref: ISO 45001}
HAZard IDentification StudyThe primary role of a HAZID study is to identify hazards via a brainstorming approach.

HAZID studies are very broad in their scope and sometimes called a Preliminary Hazard Analysis (PHA).
HAZard OPerability StudySystematic qualitative/ semi-quantitative technique to identify and evaluate process hazards and potential operating problems, using a series of guide words to examine deviations from normal process conditions.
Heat MapsPut simply, a heat map is a two-dimensional representation of data in which consequences and likelihood are represented by colours and can be designed from being simple (qualitative only: 3 x 3 matrix) to very complex (both qualitative and quantitative: 5 x 5 matrix).
Impact InvestmentImpact investing is a relatively new term, used to describe investments made across many asset classes, sectors, and regions.

{Ref: Global Impact Investing Network, GIIN}
Key Performance IndicatorKey Performance Indicator (KPI) is a type of performance measurement that helps you understand how your Organisation (or section, department etc) is performing.
Lagging IndicatorLagging indicators look back at historical performance and hence focus on outcomes.
Leading IndicatorLeading indicators are forward-looking and offer a glimpse into future performance.
Management of ChangeManagement of Change (MoC) is an important practice (or process) to ensure that environmental, health, safety, risks and hazards are properly controlled when an organisation makes changes to their facilities, operations, or personnel (more commonly known as Management of Organisational Change, MoOC).
Management SystemA management system is the way in which an organisation manages the inter-related parts of its business in order to achieve its objectives.

These objectives can relate to a number of different topics, including product or service quality, operational efficiency, environmental performance, health and safety in the workplace and many more.

{Ref: ISO Website}
Process Safety ManagementThe Center for Chemical Process Safety (CCPS) describes Process Safety Management (PSM) as:

The application of management principles and systems to the identification, understanding and control of process hazards in order to prevent process related injuries and accidents.
RiskRisk is a combination of the consequences (I.e., outcome) of an event (including changes in circumstances) and the associated chance of something happening (I.e., likelihood or probability)

{Ref:ISO 31000}
Risk AnalysisProcess to comprehend the nature of risk and to determine the level of risk.

{ISO 31000}
Risk AppetiteAmount and type of risk that an Organisation is willing to pursue or retain.

{Ref: ISO ISO Guide 73 (2009) – Risk Management Vocabulary}
Risk AssessmentOverall process of risk identification, risk analysis and risk evaluation.

{Ref: ISO 31000}
Risk EvaluationProcess of comparing results of the risk analysis with Risk Criteria to determine whether the risk and/or its magnitude is acceptable or tolerable.

{Ref: ISO 31000}
Risk IdentificationProcess of finding, recognising and describing risks.

{Ref: ISO 31000}
Risk LevelsMagnitude of risk or combination of risks, expressed in terms of the combination of consequences and their likelihood.

{Ref: ISO 31000}
Risk Management FrameworkSet of components that provide the foundations and Organisational arrangements for designing, implementing, monitoring, reviewing and continually improving risk management throughout the Organisation.

{Ref: ISO 31000}
Risk Management PlanScheme within the risk management framework specifying the approach, the management components and resources to be applied to the management of risk.

{Ref: ISO 31000}
Risk Management PolicyStatement of the overall intentions and direction of an Organisation related to risk management.

{ISO 31000}
Risk ProfileDescription of any set of risks.

{Ref: ISO 31000}
Risk ToleranceAn Organisation’s or stockholder’s readiness to bear the risk after risk treatment in order to achieve its objectives.

{Ref: ISO Guide 73 (2009) – Risk Management Vocabulary}
Root CauseA root cause is an initiating cause of either a condition or a causal chain that leads to an outcome or effect of interest.
SafetyThe condition of being protected from or unlikely to cause danger, risk or injury
Safety CultureThe safety culture of an organisation is the product of individual and group values, attitudes, perceptions, competencies, and patterns of behaviour that determine the commitment to, and the style and proficiency of, an organisation’s health and safety management.

Organisations with a positive safety culture are characterised by communications founded on mutual trust, by shared perceptions of the importance of safety and by confidence in the efficacy of preventive measures.

{Ref: ACSNI Human Factors Study Group: Third report – Organising for safety HSE Books 1993}
Safety MomentA Safety Moment is a brief safety talk about a specific subject at the beginning of a meeting or shift.

Also known as safety minutes or safety chats, these talks can be done in a variety of ways, but are typically a brief (2-5 minute) discussion on a safety related topic.
Simultaneous OperationsSimultaneous Operations (Sim-Ops) are defined as:

Construction, Commissioning, Production and Operations related activities undertaken and performed by two or more independently managed organisations where the physical proximity or activities on one work location have the potential to impact another work location.