SCOPE OF BSI’S RISK MANAGEMENT POLICY AND PRINCIPLES

We adhere to the principles of documented risk management standards such as:

• ISO 31000 (a risk management framework)
• NORSOK Z-013 (Guidelines for Risk and Emergency Preparedness Analysis)
• ISO 17776 (guidelines on tools and techniques for identification and assessment of hazards)

As per ISO 31000, we adhere to the precepts of:

• Risk identification
• Risk analysis
• Documentation
• Monitoring and reviewing risk assessment

As per NORSOK Z-013, we engage in our work with respect for the principles of:

• Establishment and use of risk acceptance criteria
• Planning, execution and use of risk and emergency preparedness analysis
• Specific requirements to quantitative risk analysis

As per ISO 17776, our work respects the principles of:

• Risk Identification
• Risk Assessment
• Risk Reduction

For further information on BSI’s guiding risk management principles and policies, contact us or reference our presentation to ADIPEC on the subject: “SPE-161035-PP: Major Accident Prevention and Lessons Learned in Oil & Gas: Four Guidelines and Thirteen Best Practices for Governing Safe Supply Chains.”