Unit 4: ERA/ERM

Question 1

What are the stages of RM

Answer 1

1) Risk Assessment - hazards & losses identified
2) Loss control - loss avoidance, prevention & reduction
3) Crisis Management - natural disaster management
4) Claims Management - handling & resolving claims related to environmental liabilities, loss or damages
5) Risk Financing - strategies, mechanisms & financial tools used to address & mitigate financial consequences of environmental risks & disasters

Question 2

ERM vs ERA

Answer 2

ER Managers - aim to protect humans from hazard
ER Assessors - provides manager with best information possible to manage risks

Question 3

What are the RM Elements

Answer 3

1) RISK ANALYSIS:
a) Risk identification
b) Risk Assessment
c) Risk prioritization
2) RISK CONTROL
a) RM planning
b) Risk resolution
c) Risk Monitoring

Question 4

Define EMS

Answer 4

a set of processes & practices that enable an organization to reduce its environmental impact and increase its operating efficiency

Question 5

What fundamental change does EMS reflect

Answer 5

A change from a reactive compliance based environmental management program to an impact predicting management system

Question 6

Name the Risk Management Strategies

Answer 6

1) Risk Avoidance
2) Risk Reduction
3) Risk Transfer
4) Risk Mitigation
5) Risk Acceptance