Two aspects of improvement should be considered - the risk controls and the associated management system.
The audit enhanced bow tie analysis will identify areas for further work to control the risk in the immediate to short term.
The RM3 analysis will provide a framework for improvement that will ensure that all health and safety risks are managed in a sustainably efficient, as well as effective, way.
Figure 1 below provides an overview of a six stage approach to assurance. The last three stages form a management cycle once the first six steps are completed.