Risk is often discussed and analysed by considering likelihood and consequences of an unwanted event. While this approach is theoretically correct, it is often inaccurate. Decision makers must know (and understand) important controls to gauge the risk. Without understanding the effectiveness of important controls, our estimates of likelihood and consequences are virtually guesses. Site level thinking about risk can be focussed on ‘getting it in the green’ cells of a risk matrix. The amount of risk is directly related to the effectiveness of controls intended to prevent or mitigate an unwanted event. However, focussing on controls requires an evolution of current risk management thinking and practices. This webinar will expand on reasons for the needed change and provide an approach to starting the evolution of site operational risk management to a control-based approach.