Risk Management contributes to performance improvement in ZADCO by recognizing threats to the achievement of our performance targets, and by reducing those threats to acceptable levels. Risk is the chance of something happening that will impact on ZADCO's objectives, activities or resources. It can be caused by uncertainty, complexity, hazards, neglect and other similar factors.

All managers and team leaders are responsible for managing the business risks in their areas and ZADCO's Business Risk Management System (ZBRMS), has been developed for this purpose.

ZBRMS provides a disciplined approach for the identification, analysis, treatment, reporting, and monitoring of risks. It is based on the Australian/New Zealand Risk Management Standard (AS/NZS 4360-2004).

Periodic Risk Management Workshops are conducted in ZADCO at Corporate level to address Strategic risks and at Business Unit/Support Unit level to address all other risks. The workshops follow the five step process shown below:

ZADCO's Business Risk Management Workshop Process