For assessing the risks in your operations there is an Australian/New Zealand Risk Management Standard AS/NZS ISO 31000:2009 that provides a comprehensive guide to risk management. It includes a qualitative risk analysis matrix and uses a combination of the magnitude of the consequence and the likelihood of the event, which are allocated a qualitative measure of high risk, moderate risk and low risk.
Support in this process is also available through our Fatigue Hazard Analysis Risk Assessment workshops.