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The Operations of Volta Mining Limited - Assignment Example

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The paper "The Operations of Volta Mining Limited " is an outstanding example of a finance and accounting assignment. Occupational Safety and Health Management Systems (OSHMS) play integral roles in the effective running and management of a firm’s operations. It is a verifiable method of managing hazards and associated risks…
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ASSESSMENT THREE Name: Professor: Institution: Course: Date: Part A Occupational Safety and Health Management Systems (OSHMS) play integral roles in the effective running and management of a firm’s operations. It is a verifiable method of managing hazards and associated risks. This has an effect of lowering employee absenteeism at the work place, increasing productivity and job satisfaction. In this section OSHMS will be developed based on AS/NZ 4804 and AS/NZ 4801; which offers direction on applicability of OSHMS and their incorporation with other executive tasks. It is vital to comprehend that proper execution of an OSH administration plan should guarantee that the business unit conforms to pertinent OHS rules and codes of practice. An OHS policy, OSHMS planning, implementation and evaluation will be presented in this section with reference to the operations of Volta Mining Limited (involved in exploration of gold). OHS Policy Based on AS/NZ 4804 and AS/NZ 4801 for Volta Mining Limited The aim of the OHS policy is provide a safe, healthy environment and experience for the employees, customers, and other third parties affiliated with the organization (the general public and the environment). The policy sets regulations required to promote conformity with OHS policies and interrelated ethics and business principles. This policy is established to ensure that employees, supervisors, customers and other third parties are provided with a safe and healthy work environment so as to reduce health and safety risks. Volta Mining Limited has to provide its stakeholders (employees, supervisors, customers etc) with appropriate guidance and training in the identification, assessment, and control of hazards in the premises of the organization. It is an expectation of the organization that all stakeholders will cooperate with the established OHS protocols, take responsibility for their own actions and not put themselves or others at risk. OHS issues noted will be taken seriously and addressed on time to alleviate the risk of injury. Planning an Occupational Health and Safety Management System The objective of this OSHMS is to ensure that business unit can attain its OHS policy, goals and missions in relation to the enhancement of suitable working conditions for workforce and society in entirety. This part of the essay gives a comprehensive scheme on what ought to be done so as to promote safe and healthy commercial ventures of Volta Mining Limited in its gold exploration activities. It is imperative that an identification of the requirements of the company in relation to the explorations, excavations, processing and distribution of the gold products is done so as to create a safe and healthy working environment. Once an evaluation of the tasks to be performed by the organization is done, the activities that the firm is involved in are also assessed so as to ascertain the course of action to be undertaken in relation to the attainment of the goals of the OSHMS based on AS/NZ 4804 and AS/NZ 4801 standards. This has to be done based on the significance and priorities of the needs of the stakeholders within the firm and those affiliated to it. Simple, measurable, attainable and realistic tasks are put in place to enhance the achievement of the firm’s goals. It is significant to understand that assessment of the tasks to be done such as training, identifying risks and hazards, assessment of risks and management plans ought to be implemented based on AS/NZ 4804 and AS/NZ 4801 standards and OHS Act. In order to facilitate safety of personnel and the environment, the suggested preparation process will include the following activities; Identification of risks that the business is encountering and the likely problems that it could face in future. Provision of a detailed outline and education to workers, supervisors, contractors and customers in the firm. Preparing a plan that will promote sustained teaching and assessment of the workers in the firm. RMP education to stakeholders in the business unit on a regular basis. Inspection and refurbishing equipments and production tools to make certain that they are in usable as stipulated in the OHS Act. Invigorating stakeholders to use healthy operational methods or methods so as to curb the increased cases of injury. Documentation of measures to note OHS risks and control them so as to minimize the identified risks. Establishing and implementing legal requirements that are directly applicable to the OHS issues so that it can be communicated to organizational stakeholders. The firm has to establish management plans that involve designation of responsibility for achievement of objectives and outlines ways and schedules for attaining its set objectives and targets. Implementing an Occupational Health and Safety Management System An organization that has well established and documented health and safety practices facilitates identification and elimination or mitigation of risk factors that can cause injury, illness or even worse still death. With regards to the stated tasks in organizing for execution of an OSHMS, the attainment of the intention of OSHMS for Volta Mining Limited will be based on; Organization and accountability: All stakeholders in the functioning of the firm have to be enlightened on tasks and structure of performing their duties. Duties of the workforce at the premises Volta Mining Limited have to be properly documented and affirmed. This is focused on promoting responsibility in regards with the OHS policy in cases of hazardous occurrences causing injuries to participants. For example, supervisors have a duty to ensure the personnel under their authority are aware of safe working environments. They should ensure that safety of employees is promoted through creation of safe and healthy working environments. Contractors have to perform regular inspections to ensure that Volta Mining Limited’s working conditions are safe. Employees also have a task of learning to use safe working procedures or methods and work in accordance with policies that are documented concerning safe and healthy working conditions. The firm’s executive committee should note and offer funds required to institute and improve organizational OHSMS. This insinuates that resources such as human resources and specialized skills, technology and financial resources have to be adequate so as to enhance the attainment of the firm’s objectives in relation to the OHS Act and AS/NZ 4804 and AS/NZ 4801 standards. Since Volta Mining Limited is involved in contractual activities, there is a need to have the contractors involved to be furnished with information concerning accountability and responsibility that is clear with respect to them. For efficacy in the implementation of the OHSMS requirements, the top management of the organization ought to appoint specific management representatives who, regardless of other duties, are endowed with roles for making certain that OHSMS are recognized, put in place and maintained. Training and competency of stakeholders and continued assessment The firm has to make discussions with workers so as to identify training needs in relation to executing tasks competently, as well as OHS guidance. Efficacy in communication, reporting and recording of activities has to be done so as to enhance the identification, assessment and management of risks associated with the operations of the company. It is worthwhile noting that these activities will act as a spring board in enhancing emergency preparedness and response stratagems to effectively handle any subsequent risks. Procedures aimed at ensuring that OHS competencies are developed and maintained ought to be put in place so assess the competence of personnel based on knowledge acquired through training or practice, and carry out diverse tasks linked with job tasks. Directions on secure operational environment have to be written (subdivision 3 of OHS) Secure operational environments are essential in the facilitation of risk management in any organization. This implies that communicating these instructions to employees among other key organizational stakeholders such as supervisors and contractors is important. There is a need for convening management committees to review safety policies and feedback from customers and employees relating to their safety and health. Employees ought to be involved in the development, discharge and appraisal of the policies and actions to identify hazards so as to assess and control risks. They have to be consulted in case there are any changes in the OHS policy and be informed on the structural policies and procedures to be undertaken in the event of the occurrence of risks. Safe working policies and instructions ought to be recorded and made available to personnel relating to pertinent information in relation to the affirmations of OHSMS. The management of Volta Mining Limited ought to report its OHS performance, reporting of cases and system failures, evaluation and management of these risks based on legal requirements. The communication, consultation and reporting procedures ought to be documented so as to describe the core elements of the management system and their interaction. Data on procedures to be followed have to be recorded to make them readily available, periodically reviewed and approved for competence by capable and liable personnel. Emergency preparedness procedures ought to be periodically tested and amended so as to ascertain their efficacy in relation to OHS policy and AS/NZ 4804 and AS/NZ 4801 standards. Investigations on noticeable possible risks should be done and recorded Investigating and documenting hazards so as to use the quantitative and statistical information derived from the operations of Volta Mining Limited is imperative in the implementation of OHSMS. Sustained education and training of stakeholders within the organization This activity ought to be adopted and be accompanied with the analysis of the worker complaints concerning health and safety. This will act as a springboard for monitoring and reviewing the effectiveness of the OHS policy and the related standards. Procedures for self monitoring ought to be put in place so as to make it certain that OHSMS goals are attained. Measurement and Evaluation This stage involves the following activities; Monitoring and measurement Monitoring and evaluation of the implemented OHSMS within an organization is significant as it ensures effectiveness in the operations and activities of the firm so as to reduce illnesses and injury to the employees within the organization. There is a need to have suitable tools for assessing measurement of aspects on safety of the organization’s stakeholders. The information on the process of the firm’s procedures of managing the prevalence of risks has to be well stored. This has to be done in accordance with the OHS policies and rules. Health surveillance The organization ought to identify situations where employee health surveillance is needed and put in place suitable systems. Employees ought to have access to their own results so that workers vulnerable to certain hazards are scrutinized and health records are kept. Event examination, counteractive and precautionary action The business unit has to develop, execute and sustain methods for investigating, responding to and taking action to reduce any harm resulting from risky incidents within the firm and its environs. Assessing and counteracting to system failures backed up with initiation and completion of appropriate corrective and preventive action are some of the mandatory review and evaluative tasks. This will aid the organization to record any changes in the OHSMS resulting from incidence investigations so as to provide room of improvement of the OHS policy to suit needs of the customers. Records and records management Management of records related to the safety and healthy aspects of organizational activities is imperative in ensuring that OHS policy information is stored and maintained in a ways that are retrievable and protected against damage, loss of deterioration. The records ought to be maintained as deemed fit by the firm’s operational system and in conformity with the requirements of the AS/NZ 4804 and AS/NZ 4801 standards. Periodic system audits ought to be put in place so as to facilitate conformity to the planned arrangements of OHS. Management review by the executive members of the organization has to be done to guarantee that all the required information is gathered to enable management to promote continual improvement of healthy and safer working environments. Description of Volta Mining Limited (Company for which the OHSMS has been developed) Volta Mining Limited is a company listed in the Australian Stock Exchange (ASX) and is basically involved in the exploration for gold. This is a junior exploration company that has been established to take advantage of the opportunities presented by a buoyant and evolving gold sector in West Africa. The company aims at expanding it gold exploration in Africa and to establish other mining activities that will enhance its economic and financial capability in the world market. The company has a well established managerial system and its accounts are audited to enhance compliance to the statutory requirements of the company. Given that the activities of gold exploration and mining are risky, adoption of OHS policy, planning, implementing, reviewing and applying an OHSMS tool is imperative. Grade Related Descriptors Grades Depth and breadth of Coverage Critical Elements Structure, Language and Conventions Includes layout, readability, referencing, professional languageetc High Distinction 80 - 100% All aspects were addressed and researched in great depth. Demonstrates great depth of thought and understanding, excellent development of argument, logical analysis and insight into the subject. All aspects conform to a high academic / professional standard. Distinction 70% - 79% Most aspects were addressed and researched in depth. Demonstrates solid understanding, some evidence of analysis, supported by logical argument and insight into the subject. Most aspects conform to a high academic / professional standard. Credit Pass 60% - 69% Most aspects were addressed and researched adequately. Demonstrates understanding of most major concepts, evidence of elementary analysis and the development of argument. Most aspects conform to an acceptable academic / professional standard. Pass 50% - 59% Basic aspects were addressed and researched adequately. Demonstrates mainly description, showing basic understanding of the topic. Limited aspects conform to academic / professional standards. Fail Read More
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