An Industry - Risk Management Analysis (I-RMOa) is designed to assist the industry in identifying and managing risks in conformity with existing or proposed regulations as well as broader policy objectives and societal concerns.
The use of a substance or its presence as an impurity or minor constituent may lead to risks at different levels related to manufacturing or final use. Areas of concern may be occupational or public health or the environment. Furthermore, these risks may affect a company’s economic performance and the sustainability of its business.
Quite many businesses are customary to the practice of risk management analysis.
There are 2 main approaches to an Industry-RMOa in chemicals management:
An I-RMOa can be performed
- To address a regulatory initiative (a regulatory management options analysis as described earlier). The approach is somewhat limited in scope and is that of the simple-I-RMOa (see illustration below).
Understand & assess the risk(s) as described in regulatory initiative
Be prepared to consider feedback from other stakeholders
- To prepare industry/companies to address likely regulatory and societal challenges. They may affect the way they operate and their processes. Typically, such an analysis tries to develop the broadest view of the issues at stake (consideration of risks across activities, more in-depth integration of other EU policy objectives etc.) and is therefore called the Integrated I-RMOa (see illustration below).
Identify & Understand the risk at relevant level (company RMOa ? Commodity RMOa ? Supply chain RMOa ?...)
Build in a feedback loop for continuous improvement and validation
Supply chain strategy decisions (product stewardship, training & other initiatives)
Commodity action such as new studies and data collection...
Within an industry context, there will also be significant nuances between an I-RMOa performed by an individual company and one run by a group of companies or associations within a value chain. This should be clear when setting the ambitions, scope and boundaries of the exercise.
We have prepared a fact sheet with more information on the definition and different types of RMOa which you can download here.
Last page update: 12 May 2022