Risk Calculator | Octfolio
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Risk Calculator

Calculating the associated risks relating to the presence of asbestos containing materials in buildings can be an extremely complex task. This is particularly the case for large-scale asset portfolio managers with significant volumes of asbestos to manage. What are the risks? Well, there is the obvious risk of human exposure to airborne asbestos fibres. Then there is the risk of significant and costly site remediation works associated with an asbestos contamination. There is the risk of having to shut down large sections of the workplace because of asbestos-related incidents and remediation works resulting in loss of income. Then there is the risk of industrial relations action from employee unions and associated safety representatives. There is the risk of non-compliance and huge fines from regulatory agencies. There is the risk of litigation and legacy asbestos compensation claims resulting from employees that may simply ‘think’ they were exposed to asbestos. There is also the risk of staff leaving employment following the identification of asbestos containing materials, even though they may be perfectly safe in the workplace.

 

The OCTFOLIO Hazardous Material Information Management Software allows building owners and managers to accurately assess and model all of the above-mentioned risks with one simple interface. The software utilises highly specialised and innovative algorithms to accurately determine the risk likelihood and the risk consequences and presents the calculated risk levels for all associated risks in a very user friendly and intuitive manner. This allows executive management boards and project managers to set alerts and to be made aware of various types of risks in real time, and presents users with the ability to immediately and effectively implement management measures to control and, where possible, eliminate these risks all together.

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