Risk Management policy template
Framework for identifying, assessing and managing workplace risks. Covers risk appetite, assessment methodology and management responsibilities.
Risk management policy
PDF format • Ready to download
By downloading, you agree to our template disclaimer
Why risk management is essential
Under WHS legislation, every PCBU must identify hazards, assess risks and implement control measures. A documented risk management policy demonstrates your systematic approach to meeting these obligations.
Effective risk management goes beyond compliance. It protects workers from harm, reduces incidents that disrupt operations, and demonstrates due diligence to regulators, insurers and stakeholders.
This policy provides the framework for identifying risks before incidents occur, prioritising controls based on risk level, and continuously improving your safety performance.
Key elements of risk management
What your risk management policy should cover
Risk identification
Methods for systematically identifying workplace risks.
Risk assessment
Evaluating likelihood and consequence of identified risks.
Control measures
Hierarchy of controls for eliminating or minimising risks.
Risk register
Documentation system for tracking identified risks.
Review process
Schedule and triggers for reviewing risk assessments.
Management accountability
Clear responsibilities for risk management at all levels.
What's included in this template
Comprehensive risk management framework
Purpose & scope
Why risk management matters and what it covers.
Risk management framework
The overarching structure for managing risk.
Risk identification process
How risks are identified across the business.
Risk assessment methodology
Likelihood, consequence and risk rating approach.
Control hierarchy
Preferred order of risk control measures.
Risk register
Recording and tracking identified risks.
Monitoring & review
Schedules for reviewing risk assessments.
Roles & responsibilities
Who is accountable for risk management.
Communication & consultation
Sharing risk information across the organisation.
Continuous improvement
Learning from incidents to improve risk management.
Who should use this template?
Essential for every Australian employer
Legal disclaimer
This template is designed to reflect Australian WHS requirements at the time of publication. It is provided as a general guide only and does not constitute legal advice.
You should review and tailor this template to suit your business, industry and specific workplace hazards. For high-risk industries, seek independent WHS professional advice.
Regulatory sources
This template is aligned with official Australian workplace health and safety requirements.
Ready to establish your risk framework?
Download our comprehensive Risk Management policy template and build a systematic approach to managing workplace risks. Store this policy and track employee acknowledgements with RosterElf's HR software.
Looking for more templates? Browse all safety & compliance templates
Risk management policy FAQ
- The hierarchy ranks controls from most to least effective: Elimination (remove the hazard), Substitution (replace with something safer), Isolation (separate people from hazard), Engineering controls (design safety in), Administrative controls (procedures and training), PPE (last resort).
- Involve workers who do the tasks — they understand the risks. Include supervisors, health and safety representatives, and specialists where needed. Consultation is a legal requirement under WHS legislation and leads to better solutions. Learn how to conduct a WHS assessment effectively.
- Use a risk matrix combining likelihood (how probable) and consequence (how severe). Address high-likelihood/high-consequence risks first. Some risks may be acceptable and require only monitoring. Document your assessment and rationale.
- Yes. This template provides a solid foundation, but you should tailor it to reflect your specific workplace hazards, industry requirements, and applicable WHS legislation. Consult with your workers and health and safety representatives during the customisation process.
- Distribute the policy during safety induction for new employees and via toolbox talks or safety meetings for existing staff. Ensure the policy is accessible on noticeboards or your intranet. Using HR software with policy management can track acknowledgements.
Related guides
Learn more about implementing this policy
Related templates
Build a complete safety management system
Disclaimer
This document is a general HR template provided for informational purposes only. It is not legal advice and may not reflect the latest changes in legislation or apply to every workplace situation. RosterElf Pty Ltd and the template provider accept no liability for any loss arising from reliance on this document. Users should seek independent legal advice and customise the template to ensure it complies with all relevant laws, awards and workplace requirements.