BIM & TIM
BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
INTEGRATED MANAGEMENT
SYSTEM
Page No. Page 1 of 21
(ISO 9001:2015, ISO 14001:2015 & ISO
45001:2018)
Issue No. 1
Procedure for Addressing
Risk and Opportunity Revision No. 1
Revision Details
Sl. No. Status Date Pages Affected Revision Summary Reason for Revision
01 First Issue 10/05/2019 -- -- --
Change in distribution
list, incorporation of
terms & definitions, To make the
02 First Revision 15/01/2021 1,3,4, 5-22 incorporation of procedure
abbreviations, elaborative
procedure was made
exhaustive,
Distribution of Copies
Copy
Custody Location Remarks
No.
Chief General Manager Office of the Chief General
1 Soft Copy
(Mines) Manager (Mines)
Office of head of Mining
2 Head of Mining Department Soft Copy
Operations
Office of head of Ore Handling
3 Head of Ore Handling Plant Soft Copy
Plant
4 Head of Barsua Valley Office of head of Barsua Valley Soft Copy
Head of Field Machinery Office of head of Field Machinery
5 Soft Copy
Maintenance Maintenance
Office of head of Electrical
6 Head of Electrical Department Soft Copy
Department
Head of Geology & Quality Office of head of Geology &
7 Soft Copy
Control Quality Control
Head of Materials Office of head of Materials
8 Soft Copy
Management Management
Office of head of Environment &
9 Head of Environment & Lease Soft Copy
Lease
10 Head of Training Office of head of Training Soft Copy
11 Head of Safety Office of head of Safety Soft Copy
12 Head of BIM Hospital Office of head of BIM Hospital Soft Copy
BIM & TIM
BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
INTEGRATED MANAGEMENT
SYSTEM
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(ISO 9001:2015, ISO 14001:2015 & ISO
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Issue No. 1
Procedure for Addressing
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Head of Personnel & Office of head of Personnel & Soft Copy
13
Administration Administration
14 Head of Civil Department Office of head of Civil Department Soft Copy
15 Head of Contract Cell Office of head of Contract Cell Soft Copy
16 Head of PRS & Auto-garage Head of PRS & Auto garage Soft Copy
17 Mines Manager, TIM Office of the Mines Manager, TIM Soft Copy
18 MC/PC Office of MC/PC Master Copy
Retention
This is a “Controlled’’ document. Master copy of this document shall be preserved by
Program Co-ordinator, IMS, Barsua Iron Mine/Taldih Iron Mine for a minimum period of
three (3) years from the date of supersession. This document is the property of SAIL/RMD,
BARSUA IRON MINE, TENSA, DISTT. SUNDARGARH- 770042. Reproduction of this
document in any form of use for any purpose is strictly forbidden except with written
permission of Head of Mines.
1.0 Objective
This procedure is for identification of Risks and Opportunities on
the Integrated Management System of Barsua Iron Mine and Taldih
Iron Mine.
2.0 Scope
This procedure covers all the activities (departmental and
contractual), products and services within the defined scope under
BIM & TIM
BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
INTEGRATED MANAGEMENT
SYSTEM
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(ISO 9001:2015, ISO 14001:2015 & ISO
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Issue No. 1
Procedure for Addressing
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Integrated Management System of Barsua Iron Mine (BIM) and
Taldih Iron Mine (TIM).
3.0 Responsibility and Authority
The HODs of all the departments are responsible for the effective
implementation of this procedure.
4.0 Terms and Definitions
Term Definition
Effect of uncertainty on objectives. It
is measured in terms of Risk Priority
Number (RPN) which is the result of
Risk multiplication of Probability (P) of
occurrence of risk and Severity (S) of
consequence when a risk occurs.
Opportunity Positive effect of risk. It is a set of
circumstances that makes it possible
to do something. Taking or not
taking an opportunity then presents
different levels of risk. It is measured
in terms of Opportunity Priority
Number (OPN) which is also the
result of multiplication of
Probability (P) of occurrence of
BIM & TIM
BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
INTEGRATED MANAGEMENT
SYSTEM
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(ISO 9001:2015, ISO 14001:2015 & ISO
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opportunity and Severity (S) of
benefit when an opportunity occurs.
Risk with an overall rating (RPN) of
Significant Risk
12 or above.
Opportunity with an overall rating
Significant Opportunity
(OPN) of 12 or above.
Risk Tolerance Level of Risk that is considered acceptable.
5.0 Abbreviations
Abbreviation Narration
IMS Integrated Management System
PC Programme Coordinator
MC Management Coordinator
HOM Head of Mines
BIM Barsua Iron Mine
TIM Taldih Iron Mine
HOD Head of Department
I Internal
E External
BIM & TIM
BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
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6.0 Procedure
6.1 Steps to be followed in Risk and Opportunity Management
6.1.1 Risk Management
[Link] The steps to be followed are:
i. Communication and consultation
ii. Establishment of context
iii. Risk and opportunity identification
iv. Risk and opportunity analysis
v. Risk and opportunity assessment
vi. Risk and opportunity treatment
vii. Monitoring and reviewing of risks and opportunities, and
viii. Record of risk and opportunity management processes
i. Communication and Consultation: BIM and TIM shall
establish communication and consultation with both external and
internal stakeholders during all stages of risk management
process.
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ii. Establishment of Context: In order to establish the context,
BIM and TIM analyze the results of communications and
consultations with the relevant internal and external
stakeholders. This shall be done for the purpose of defining the
factors that should be considered in determining the scope of
risks and opportunities, as well as the criteria for their
acceptability. When it comes to factors from the external
environment, they shall be observed from the perspective of
opportunities and threats of achieving the set goals. On the
other hand, factors from the internal environment shall be
observed from the standpoint of the strengths and weaknesses
of the organization that will enable or disable the achievement of
the set goals. While establishing the context, BIM and TIM shall
define the scope and criteria of risk and opportunity
acceptability that reflect the organization's values, goals and
resources.
iii. Risk and Opportunity Identification: Identification of risks
and opportunities include their sources (areas, processes), events
(activities, including changes in environment), possible causes
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BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
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(ISO 9001:2015, ISO 14001:2015 & ISO
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of deviations and their possible consequences (in case of risks)
or benefits (in case of opportunities). Therefore, while
identifying risks and opportunities, the questions that are asked
first are: where, when, why, and how they might occur.
Thereafter, the questions that are asked are: how to prevent,
reduce, or delay the risk, and how to use opportunities in order
to maximize chances to achieve the goals. The purpose of this
step is to make a comprehensive list of risks and opportunities
that support, prevent, deteriorate or delay the achievement of the
organization’s goals.
iv. Risk and Opportunity Analysis: Risk and opportunity analysis
is mainly concerned around prioritizing and classifying risks and
opportunities. Analysis provides input for assessing the risk and
opportunity levels, as well as for taking decisions on their
treatment, treatment strategies, and treatment methods.
Therefore, when analysing risk and opportunity risks, the level
of probability of deviation occurrence and the level of
consequences or benefits from the time of such deviation
occurrence are assessed. The analysis and classification of risks
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BARSUA & TALDIH IRON MINE Doc. No. BIM-TIM/IMS/PR-30
INTEGRATED MANAGEMENT
SYSTEM
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and opportunities are done on the basis of a Risk Priority
Number (RPN) for risks and Opportunity Priority Number
(OPN) for opportunities.
RPN and OPN are obtained as follows:
RPN/OPN = P x S
Where:
P – Probability of occurrence of risk or opportunity. The scale
for probability is given in Table – 1.
S – Severity of consequence or benefit when a risk or an
opportunity occurs. The scale for severity of
consequence/benefit is given in Table – 2.
Table – 1: Scale for Probability
Probability of Measurement of Probability of Rating
Occurrence (P) Occurrence in terms of Probable
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Frequency of Occurrence
Very rare chance
Once in 5 years 1
of occurrence
Once in a year 2
Once in 3 months 3
Once in two weeks 4
Highly probable Daily 5
Table – 2: Scale for Severity of Consequence
Severity of Measurement of severity of
Consequence if the consequence in terms of delay in Rating
issue occurs resuming intended output
Very little
consequence to the Rectification will take a few hours. 1
intended output Delay in intended output by few hours
Rectification will take more than one day
2
to resume intended output
Delay of 1 week 3
Delay of 1 month 4
Very high effect on Stoppage of intended output 5
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the intended
output
v. Risk and Opportunity Assessment: Risk and opportunity
assessment shall be done by comparing their level i.e., RPN,
which has been determined during the process of analysis, with
the pre-determined level (criterion) that are acceptable to the
organization. The criterion for assessment is RPN cut-off of 12
i.e., if the RPN of risks and opportunities, identified in the
process of their analysis, equals or exceeds 12, then the risks or
opportunities need to be treated.
vi. Risk and Opportunity Treatment: The treatment of risks and
opportunities that are not acceptable to the organization is
carried out through two steps. In the first step, measures are
proposed (one or more options) to change the level of risks and
opportunities, and in the second step, the proposed preventive
measures are implemented.
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Risk and opportunity treatment shall involve a cyclical process
that encompasses:
a. Risk and opportunity assessment,
b. Risk and opportunity treatment,
c. If treatment is unsuccessful, new risk and opportunity
treatments are to be defined and implemented, and
d. Evaluation of the effectiveness of a new treatment.
vii. Monitoring and Review of Risks and Opportunities:
Monitoring and reviewing shall be carried out for critical
evaluation of the implemented process of risk and the
opportunity management. In addition, monitoring and reviewing
reports shall be planned as part of the process of reassessment of
QMS.
viii. Record of Risk and Opportunity Management Processes:
The risk management process and its outcomes shall be
documented and reported. The risk and opportunity register for
risks and opportunities arising out of external and internal issues
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shall be maintained in the format BIM-TIM/IMS/REG – 4 and
for risks and opportunities arising out of needs and expectations
of interested parties, it shall be maintained in the format BIM-
TIM/IMS/REG-6. The inventory of external and internal issues
is maintained in the format BIM-TIM/IMS/REG-11 and that
of needs and expectations of interested parties is maintained
in the format BIM-TIM/IMS/REG-12.
6.1.2 Risk and Opportunity Treatment Plan
Information gathered from the risk and opportunity management
process shall be collected in a risk and opportunity treatment plan. It
shall contain the following:
Issues in the context of the organization
Risk/opportunity description
Probability of occurrence
Description of consequence/benefit
Risk Priority
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Risk response
Timeline for implementation
Responsibility
The Risk Management Plan and Opportunity Management Plan
shall be maintained in the formats BIM-TIM/IMS/FORM – 27 and
BIM-TIM/IMS/FORM – 28 respectively.
[Link] Response Strategies for the Treatment of Risks: The strategies
shall be:
i. Accept/Ignore: Where any response is not likely to have an
impact on the business objectives of the organization, no risk
response shall be planned. When actively accepting the risk, the
idea is that the uncertainty is being accepted whether it has a
positive or negative impact.
ii. Mitigate: The aim of risk mitigation is to reduce the size of the
risk and thereby lie beneath a limit of risk acceptability. The size
of a potential threat shall be reduced by either managing the
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probability and make the risk less likely or managing the impact
and thereby reducing the severity.
iii. Transfer: Transferring risks shall involve allocating ownership
and thereby finding a third-party taking responsibility for the risk
and best able to handle the potential opportunity. The aim of this
response strategy is therefore to enable effective management.
iv. Avoid: The avoidance strategy aims to remove the cause of the
risk or execute the plan differently while still aiming to achieve
the objectives.
[Link] Response Strategies for the Treatment of Opportunities: The
strategies shall be:
i. Exploit: The aim of this response strategy is to eliminate the
uncertainty associated with a particular upside risk. Whereas the
strategy of risk treatment aims to reduce probability of occurrences
to approximately 0, the exploit strategy seeks to raise the
probability to 100 %.
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ii. Share: The aim of this strategy is to share an opportunity involving
allocating ownership to another party, who is best able to handle the
opportunity, both in terms of maximizing the probability of the
occurrence and in increasing potential benefits.
iii. Enhance: For the opportunities that cannot be exploited or shared
are enhanced by increasing the probability and/or impact by
identifying and maximizing key risk drivers.
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Fig. 1: Different Response Strategies for Risks and Opportunities
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Fig. 2: Response strategies by Priority and Intensity
[Link] When using this approach, avoid and exploit shall be considered
first. The second priority shall be by either transferring a threat or
sharing an opportunity. When it is not possible to either avoid/
exploit or transfer/ share, responses shall be to mitigate threats and
enhance opportunities. The last response option focuses on
accepting risks after the three previous mentioned have been
considered.
BIM-TIM/IMS/REG - 4
RISK AND OPPORTUNITY REGISTER (with respect to External and Internal Issues)
Risk Assessment Opportunity Assessment
Issues in the
Sl. No. Area considered context of the I/E
organization
RPN
RPN
Possible Risk P S Possible Opportunity P S
BIM-TIM/IMS/REG-6
RISK AND OPPORTUNITY REGISTER (with respect to Needs and Expectations of Interested Parties)
Risk Assessment Opportunity Assessment
Sl. No. Interested Party Needs/Expectations
Possible
RPN
RPN
Possible Risk P S P S
Opportunity
BIM-TIM/IMS/REG - 27
RISK TREATMENT PLAN
Issues in the context of
Evaluation of
Risk the organization/Needs Recommended Responsible
RPN
I/E P S Needed resources Timeline measures
Sl. No. (or expectation of measures person
taken
Interested Parties)
BIM-TIM/IMS/REG - 28
OPPORTUNITY TREATMENT PLAN
Evaluation of
Risk Issues in the context of Recommended Responsible
RPN
I/E P S Needed resources Timeline measures
Sl. No. the organization measures person
taken
