Effective from November 2022
Approved by: Chief Executive Officer
Objective
The objective of this workflow is to ensure, so far is reasonably practicable, the minimisation of risk in Five Good Friends (FGF) activities.
Definitions
- Control - an existing process, policy, device, practice or other action that acts to minimise negative risk or enhance positive opportunities
- Hierarchy of controls - framework to help assess what controls to deploy to best manage the risk and assist in recovery
- Impact - outcome of an event
- Incident reporting - a process used by FGF to record and document incidents
- Likelihood - used as a general description of probability or frequency
- Loss - any negative consequence or adverse effect, financial or otherwise
- Remote Care Monitoring - care management process and digital toolset used to monitor ongoing health and wellbeing of Members
- Risk - the chance of something happening that will have an impact on objectives
- Risk analysis - systematic process to understand the nature of and to deduce the level of risk
- Risk assessment - the overall process of risk identification, risk analysis and risk evaluation
- Risk evaluation - a process of comparing the level of risk against risk criteria