Paper: Risk-Based Prioritization A Decision Aid

Risk is the potential for an adverse impact on the achievement of objectives. Environmental, health and safety (EHS) risks often threaten far beyond the EHS objectives. Risk management is the process by which risk is prevented, controlled or mitigated in a value focused manner, considering both benefit and cost sides of the risk equation. It is prudent to recognize that i) everything cannot be done at once, ii) some things are more important than others, and iii) it is best do the most important things first. The objective is to "Work the right issues - fund the right opportunities".