SHEQ PROCEDURE

NASS CONTRACTING Co W.L.L

DOCUMENT NUMBER:

NC-SHEQ-38
Revision 0

DOCUMENT TITLE:

SHEQ PROCEDURES:
RISK MANAGEMENT PROCEDURE
NASS CONTRACTING CO. W.L.L Doc. No: NC-SHEQ-38
Revision: 0
SHEQ PROCEDURE: RISK MANAGEMENT PROCEDURE Date: 19/04/2017

REVISION RECORD

Rev. Date Summary of Revision

0 19-04-2017 First issue approved and authorized for use.

Rev. Date Description Origin By Reviewed Approved

0 19-04-2017 ISSUED FOR USE

Saurav Sen D Anthony Ghazi A Nass
QA/QC Manager General Manager CEO

A. Nabi Marhoon Nigel B. Hector

HSE Manager Operations Manager

Ian Edward Boys

Commercial Manager

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 NASS CONTRACTING CO. W.L.L Doc. No: NC-SHEQ-38
Revision: 0
SHEQ PROCEDURE: RISK MANAGEMENT PROCEDURE Date: 19/04/2017

CONTENTS

Section Page No.

CONTENTS .................................................................................................................................................................... 3

1.0 PURPOSE ........................................................................................................................................................ 4

2.0 SCOPE ............................................................................................................................................................. 4

3.0 DEFINITIONS / ABBREVIATIONS .................................................................................................................. 4

4.0 REFERENCES ................................................................................................................................................. 4

5.0 RESPONSIBILITIES ........................................................................................................................................ 4

6.0 PROCEDURE ................................................................................................................................................... 5

6.1 GENERAL ........................................................................................................................................................ 5

6.2 MANAGEMENT OF RISKS .............................................................................................................................. 5
6.3 MANAGEMENT OF OPPORTUNITIES ............................................................................................................ 5
7.0 RECORDS ........................................................................................................................................................ 6

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 NASS CONTRACTING CO. W.L.L Doc. No: NC-SHEQ-38
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SHEQ PROCEDURE: RISK MANAGEMENT PROCEDURE Date: 19/04/2017

1.0 PURPOSE

The purpose of this procedure is to describe the process to assess and ensure
implementation and continual improvement of the risk Management procedure by Nass
Contracting Management at planned intervals. The company has established, implemented
and maintained this procedure for managing risks and opportunities throughout the Nass
contracting.

2.0 SCOPE

This procedure applies to all Nass Contracting Projects/Departments within the scope of the
Integrated Management System i:e: ISO: 9001:2015, ISO:14001:2015 & OHSAS
18001:2007.

3.0 DEFINITIONS / ABBREVIATIONS

CEO: Chief Executive Officer

Dept: Departments
SHEQ: Safety, Health, Environmental & Quality Management
HR: Human Resources Dept.
QMS: Quality Management System

Note: this procedure has adopted definitions for key terms developed specifically by Nass
contracting and determined appropriate for its use within the unique requirements of its
management system. It does not adopt current ISO definitions, which Nass Contracting has
determined are not sufficient for its use.

Risk: A negative effect of uncertainty.

Opportunity: A positive effective of uncertainty.

Risk Assessment: a systematic investigation and analysis of potential risks, combined with the
assignment of severities of probabilities and consequences. These are used to rate risks in order to
prioritize the mitigation of high risks.

Risk Mitigation: a plan developed with the intent of addressing all known or possible risks and
preventing their occurrence.

4.0 REFERENCES

ISO :14001:2015 Environmental Management

ISO: 9001:2015 Quality Management System
OHSAS:18001:2007 Health and Safety Management System
NC-SHEQ-01 SHEQ Manual
NC-SHEQ-04 Management review

5.0 RESPONSIBILITIES

The following personnel have responsibilities mentioned in this procedure: Responsibility

and authority for this procedure are spread across various functions, and defined within
this procedure.

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Nass Contracting Executive Committee

QA/QC Manager (MR)

HSE Manager (MR)

Site Management

Departmental Heads.

6.0 PROCEDURE

6.1 GENERAL

Nass Contracting considers and manages risks and opportunities differently.

Risks are managed with a focus on decreasing their likelihood, and minimizing their
impact if they should occur.

Opportunities are managed to increase their likelihood, and to maximize their benefits
if they should occur.

Where risks and opportunities overlap, the best appropriate method for managing them
shall be ascertained, given the situation at hand

6.2 MANAGEMENT OF RISKS

Risks are considered during the execution of various processes.

Each process is defined in detail through a [Process Definition Doc Title]. This
document includes the identification and mitigation plans for key risks associated with
the defined process. [Short Client Name] management reviews these risks and takes
action to minimize them.

The methods for risk assessments vary, but should always include a means of
identifying the risk under examination, and a description of the result of the risk
assessment.

Detailed methods may include FMEA (failure mode effects analysis), SWOT (strength,
weakness, opportunity and threat) or other tools. No single method is used for all risk
assessments; the tool selected should be the best tool applicable to that particular risk
analysis.

ISO 31010 provides guidance on the selection of risk tools

6.3 MANAGEMENT OF OPPORTUNITIES

As part of the [name of your business development or sales process] process, Nass
Contracting shall seek out opportunities which could enhance its financial viability and market
position. For example:

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obtaining new contracts

obtaining access to new markets
identification of new industries which may be served by Nass Contracting
development of new offerings that are within the scope of capabilities of Nass
Contracting.
streamlining existing processes to improve efficiency and reduce costs

In addition, throughout all Nass contracting processes, the corrective action system and internal
auditing process should be used to identify possible opportunities for improvement.

Discussing and analysing opportunities shall be done by top management. If made part of the
management review activities, these shall be recorded in the management review records.

If an opportunity requires a risk assessment, this shall be done as defined above.

Analysis of any opportunity will generally result in one of the following possible determinations:

Pursue the opportunity

Explore the opportunity in greater detail before proceeding
Accept the opportunity, but under limited and controlled conditions
Decline the opportunity, typically based on a high expected risk

7.0 RECORDS

Records shall be maintained in accordance with risk management procedure.

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