What is ALARP in Risk Management?

What is ALARP in Risk Management?

ALARP stands for “As Low As Reasonably Practicable” and is often used within Risk and Safety Management circles. But what exactly is it…? Background The ALARP principle recognises that no industrial activity can be entirely free from risk.  The...
What is Risk Tolerance?

What is Risk Tolerance?

What is a Risk Tolerance? An 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...