1) Many organizations fail to perform effective risk assessments, which can lead to catastrophic consequences like the Deepwater Horizon explosion. Common failures include not performing formal risk assessments at all and failing to define the context and objectives of assessments.
2) Two consensus standards released in 2011 provide guidance on risk assessment processes and emphasize its importance. Professionals should strengthen their skills in applying techniques described in the standards.
3) Key reasons organizations perform poor risk assessments include not establishing the need for assessments, relying only on compliance methods, and lacking strategies to determine when and how to assess risks. Formal risk assessment is necessary to understand risks and improvement needs.
The document discusses the five phases of risk management process: establish context, identify risks, analyze risks, evaluate risks, and treat risks. It also discusses establishing the strategic, organizational, risk management, and project contexts. Key risk categories are described such as operational, schedule, budget, business, and technical environment risks. Risk assessment and handling strategies like retaining, abating, mitigating, transferring, and avoiding risks are also summarized. Types of changes and the ADKAR change management model are defined.
Finance is the procurement (to get, obtain) of funds and effective (properly planned) utilization of funds. It also deals with profits that adequately compensate for the cost and risks borne by the business
Five Lines of Assurance A New ERM and IA ParadigmTim Leech
The document discusses a new paradigm called "Five Lines of Assurance" for internal audit and enterprise risk management. It was created to help organizations meet escalating expectations from regulators, credit agencies, institutional investors, and others regarding risk oversight and governance. The Five Lines of Assurance model focuses on an "Objectives Register" that prioritizes key strategic objectives and potential risks. It aims to integrate risk management and assurance functions, engage boards and management, and provide optimized assurance on whether residual risks are within the organization's risk appetite. The model is presented as helping organizations demonstrate effective risk oversight, integrate risk with strategic planning, and meet emerging governance standards.
Five lines of assurance a new paradigm in internal audit & ermDr. Zar Rdj
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes.
Operational risk is the risk of loss from inadequate or failed internal processes, people, and systems or from external events. This document provides a summary of operational risk, including:
1) It defines operational risk and provides examples such as business interruption, errors by employees, product failure, and IT systems failure.
2) Risks can be identified through various techniques like workshops and audits to assess processes. They are then assessed for impact and likelihood.
3) Operational risks are managed through techniques like risk acceptance, risk sharing, risk reduction, and risk avoidance such as purchasing insurance. Ongoing monitoring and review is important.
Risk Analysis Checklist and Templates for ManagersTahir Abbas
This document provides a summary of risks for a proposed organizational initiative. It consolidates risk exposure amounts from internal and external risk checklists into categories. It also includes a constraints hierarchy that prioritizes constraints like cost, schedule and risk. Reserves are identified for contingency funding to address anticipated risks and for general management reserves to address unknown risks. The total risk exposure is compared to reserved amounts to ensure the organization can adequately fund risks without impacting other work.
White paper pragmatic safety solutionsCraig Tappel
The document discusses pragmatic safety solutions for organizations without dedicated safety professionals. It provides an overview of key areas small to mid-sized firms should focus on, including employee health and safety, fleet safety, fire protection, and environmental exposures. It recommends conducting a gap assessment to identify priority areas and create a plan to address them. The document also gives examples of important components of an effective employee health and safety program, such as leadership commitment, policies, training, and accountability metrics.
The document discusses the five phases of risk management process: establish context, identify risks, analyze risks, evaluate risks, and treat risks. It also discusses establishing the strategic, organizational, risk management, and project contexts. Key risk categories are described such as operational, schedule, budget, business, and technical environment risks. Risk assessment and handling strategies like retaining, abating, mitigating, transferring, and avoiding risks are also summarized. Types of changes and the ADKAR change management model are defined.
Finance is the procurement (to get, obtain) of funds and effective (properly planned) utilization of funds. It also deals with profits that adequately compensate for the cost and risks borne by the business
Five Lines of Assurance A New ERM and IA ParadigmTim Leech
The document discusses a new paradigm called "Five Lines of Assurance" for internal audit and enterprise risk management. It was created to help organizations meet escalating expectations from regulators, credit agencies, institutional investors, and others regarding risk oversight and governance. The Five Lines of Assurance model focuses on an "Objectives Register" that prioritizes key strategic objectives and potential risks. It aims to integrate risk management and assurance functions, engage boards and management, and provide optimized assurance on whether residual risks are within the organization's risk appetite. The model is presented as helping organizations demonstrate effective risk oversight, integrate risk with strategic planning, and meet emerging governance standards.
Five lines of assurance a new paradigm in internal audit & ermDr. Zar Rdj
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes.
Operational risk is the risk of loss from inadequate or failed internal processes, people, and systems or from external events. This document provides a summary of operational risk, including:
1) It defines operational risk and provides examples such as business interruption, errors by employees, product failure, and IT systems failure.
2) Risks can be identified through various techniques like workshops and audits to assess processes. They are then assessed for impact and likelihood.
3) Operational risks are managed through techniques like risk acceptance, risk sharing, risk reduction, and risk avoidance such as purchasing insurance. Ongoing monitoring and review is important.
Risk Analysis Checklist and Templates for ManagersTahir Abbas
This document provides a summary of risks for a proposed organizational initiative. It consolidates risk exposure amounts from internal and external risk checklists into categories. It also includes a constraints hierarchy that prioritizes constraints like cost, schedule and risk. Reserves are identified for contingency funding to address anticipated risks and for general management reserves to address unknown risks. The total risk exposure is compared to reserved amounts to ensure the organization can adequately fund risks without impacting other work.
White paper pragmatic safety solutionsCraig Tappel
The document discusses pragmatic safety solutions for organizations without dedicated safety professionals. It provides an overview of key areas small to mid-sized firms should focus on, including employee health and safety, fleet safety, fire protection, and environmental exposures. It recommends conducting a gap assessment to identify priority areas and create a plan to address them. The document also gives examples of important components of an effective employee health and safety program, such as leadership commitment, policies, training, and accountability metrics.
The document describes the ISO 31000 risk management process. It includes establishing the context, risk identification, risk analysis, risk evaluation, risk treatment, communication and consultation, and monitoring and review. Various risk assessment tools are also listed for each step of the process, such as risk matrices for analysis and evaluation, and hierarchy of controls for risk treatment.
Safety Inspections and Sample Safety Inspection.Health and safety training D...Salman Jailani
Safety Inspections and Sample Safety Inspection.Health and safety training Definition of risk WHAT ARE PERMITS-TO-WORK
Mechanical Engineering
00923006902338
The document defines risk and issue, outlines the risk lifecycle and management cycle, and provides details on risk identification, analysis, assessment, and management. Key points include:
- A risk is a potential future event that could negatively impact objectives, while an issue is a current problem.
- The risk management cycle includes identifying risks, assessing them, selecting strategies, implementing controls, and monitoring/evaluating.
- Risk identification involves knowing the organization's assets and sources of risk. Risk analysis assesses the likelihood and impact of risks.
The document provides information about a webinar on ISO 31000:2018 Risk Management. It includes details such as the event date and time, speaker introduction, and session topics. The speaker, Sanjay Gore, will discuss ISO 31000:2018 including the risk management framework, principles, concepts and terms, and the risk assessment process. The webinar will cover the edifice, scope, and key components of ISO 31000:2018 including risk criteria, treatment options, and tools/techniques for risk assessment. Attendees are invited to provide feedback in the chat box.
5 Project Risk Identification Tools I Use & How You Can Use Them TooSHAZEBALIKHAN1
Risk is an inherent property of a project. Risk identification is the first step in risk management. The article details the 5 risk identification tools that have helped me in my projects. The explanation shall enable you to use the risk identification techniques for your projects.
Risk management Phase 1-5 Individual Project
Table of Contents
Introduction 3
Project Outline 3
Project risk identification 4
Project risk assessment 6
Project Risks, Responses Strategy 7
Project Risks Monitoring & Control Plan 10
Project Risks WBS & Budget Updates 11
Project Risks, Communications Plan 11
References 12
Introduction
The project that is planned by the company is to divest and move into a global perspective. Let’s ay for instance a possible expansion in the expansion of an oil refinery plant, such as a sulphur plant, my project will be to research Savage Gulf Sulphur Services. The project is supposed to ensure that the company will generate more revenue, and then it shall move into a global perspective. With the project, the company shall also increase its production due to large demand generated by the new market in the globe. Every project is faced with a certain degree of risk in the activities that it takes in an organization. It is important for organizations should carry out risk assessment procedures that are inclined in ensuring that an effective strategy shall be formulated to eliminate risk. This paper will discuss the risk management strategy and the processes that are taken in the management of risk in an organizational structure.
Project Outline
The project is it intended to increase the organized capacity and move into the global market structure. This will involve the purchase of new factors of production such as land, investors and business owners invest large amounts of capital to such investments. The project will also
Risk management justification
Risk management is identified and can be described as an assesment that has all these prioritization of risks, the management of risk could involve precise coordination and ecomonical application strategies with ereasons to minimize, control and monitor the probability and impact of unfortunate events. Risk management also helps in maximization and the act of realization of opportunities. In an organizational structure, risk management has a variety of functions which makes it an important department in an organization, based on the many roles that the risk management. This is the implementation of a strong and effective risk management and controls within securities firm, a helps in promoting stability throughout the entire firm. Risk management controls are divided into two categories. The internal and external control categories help in providing useful and effective control systems. The internal controls help in protecting the firms against market, credit, operational and legal risks. Secondly, it helps in protecting the financial industry from all the systemic risks in the organization structure (Merna, 2008)
Risk management is useful in protecting the firm's customers from enormous and large non-market related losses such as misappropriation of resources, fraud and firm failure. Such failures can result in enormous risk in the organization. R ...
Risk management involves identifying, assessing, and prioritizing risks, then applying resources to minimize their impact or maximize opportunities. There are typical business risks like strategic, operational, compliance and financial risks. Risk management processes include establishing the context, identifying risks, assessing them, developing risk strategies, implementing a risk management plan, reviewing and communicating. Key strategies for addressing risks include transferring risks, avoiding risks, reducing risks, and accepting risks.
Table of Contents
Introduction 3
Project Outline 3
Project risk identification 4
Project risk assessment 6
Project Risks, Responses Strategy 7
Project Risks Monitoring & Control Plan 10
Project Risks WBS & Budget Updates 11
Project Risks, Communications Plan 11
References 12
Introduction
The project that is planned by the company is to divest and move into a global perspective. Let’s ay for instance a possible expansion in the expansion of an oil refinery plant, such as a sulphur plant, my project will be to research Savage Gulf Sulphur Services. The project is supposed to ensure that the company will generate more revenue, and then it shall move into a global perspective. With the project, the company shall also increase its production due to large demand generated by the new market in the globe. Every project is faced with a certain degree of risk in the activities that it takes in an organization. It is important for organizations should carry out risk assessment procedures that are inclined in ensuring that an effective strategy shall be formulated to eliminate risk. This paper will discuss the risk management strategy and the processes that are taken in the management of risk in an organizational structure.
Project Outline
The project is it intended to increase the organized capacity and move into the global market structure. This will involve the purchase of new factors of production such as land, investors and business owners invest large amounts of capital to such investments. The project will also
Risk management justification
Risk management is identified and can be described as an assesment that has all these prioritization of risks, the management of risk could involve precise coordination and ecomonical application strategies with ereasons to minimize, control and monitor the probability and impact of unfortunate events. Risk management also helps in maximization and the act of realization of opportunities. In an organizational structure, risk management has a variety of functions which makes it an important department in an organization, based on the many roles that the risk management. This is the implementation of a strong and effective risk management and controls within securities firm, a helps in promoting stability throughout the entire firm. Risk management controls are divided into two categories. The internal and external control categories help in providing useful and effective control systems. The internal controls help in protecting the firms against market, credit, operational and legal risks. Secondly, it helps in protecting the financial industry from all the systemic risks in the organization structure (Merna, 2008)
Risk management is useful in protecting the firm's customers from enormous and large non-market related losses such as misappropriation of resources, fraud and firm failure. Such failures can result in enormous risk in the organization. Risk management also helps in the act or protecting the fi ...
18
MPM344 Project Risk Management
Medical Needs Risk Management
Connie Farris
11/21/2018
Table of Contents
Project Outline 3
Project Description 3
Method (Agile or Waterfall) 3
Risk Categories 4
Risk Register 6
Project Risk Analyses 9
Qualitative Risk Analysis 9
Project Risk Response Strategy TB 11
Risk Response Strategy 11
Plan for Reviewing Risk Responses 12
Identification of New Risks 14
Project Risk Communications Plan TB 15
Communications Matrix 15
Memo to the Project Sponsor 16
References 17
Project OutlineProject Description
The quality gauges of therapeutic devices contain numerous viewpoints, for example, plan control, Risk management, vendor management etc. (Singh, 2017) In this paper we are going to discuss the importance of Risk management for medical devices and steps to perform during the product development stage. Risk management is a critical part of the medical device product development lifecycle. (Singh, 2017) It enables medical device engineers to guarantee that the item is dependable, functions obviously and will be no damage to the patients, administrators or the earth. In other words, the main purpose of the Risk management cycle is to lessen or curb the odds of disappointment in the item.
Medical Needs is a company that designs and manufactures medical devices and will be opening a new company and would like for us to do the risk management involved with the materials used for these devices and the design to ensure the devices are compliant to all regulations during production. There are many areas we will cover during this project to ensure that a quality product is available for the public consumer. We are looking at completing this project in less than six months before the manufacturing process commences. We will look at everything from vendor, mechanical and that everything planned before the company is open will be as risk free as possible.
Method (Agile or Waterfall)
. We will be using an Agile Method to conduct this risk assessment. The agile methodology with more checkpoints, gives you a chance to refine what you are working for the client, and what they are at last given. (Tan, 2016) Agile gives the chance to take what you made, offer it to a customer, and bring out criticism. Considering the input, you can decide if you are going the correct way. (Tan, 2016) If changes are required, you give yourself the chance to adjust and alter. When creating medicinal devices, numerous sources of info that must be contemplated. Distinguish the requirements of the end client however comprehend the potential dangers that the item may present to end clients and guarantee that your item is adequately protected and powerful by structuring risk adjustment into your medical device.
When using the agile process, you must understand how the Risk management process fits in, and then consolidate that approach into the project development plan. (Tan, 2016) By using t.
This document provides an assessment guide for enterprise risk management. It examines whether an organization's risk management process is truly assessing risks rather than just controls. It questions if the risk assessment is context-driven and addresses the root causes of failures. It discusses how business performance can indicate unidentified or unmanaged risks. The document advocates that risks should be identified and assessed before controls, and that risks can provide insights into the effectiveness of controls. Overall, the document promotes adopting a risk-based approach to risk management rather than just focusing on controls.
Human Factors (HF) covers a variety of issues that relate primarily to the individual and workforce, their behavior and attributes. Human error is still poorly understood by many stakeholders and so the risk assessments of operations or process often fall short in their capture of potential failures. There is little consideration of human factors in the engineering design of equipment, operating systems and the overall process, procedures and specific work tasks. Operational human factor issues are often treated on an ad-hoc basis in response to individual situations rather than as part of an overarching and comprehensive safety management strategy. The role that human factors play in the rate of incidents, equipment failure and hydrocarbon releases is poorly understood and underdeveloped.
This document discusses concepts and approaches related to risk assessment and management. It begins by outlining the key objectives of risk assessment, which include identifying hazards, analyzing and evaluating risk likelihood and impacts, determining control measures, and documenting findings. It then describes various risk classification systems that categorize risks based on factors like political, economic, social, technological, legal, and environmental considerations. Finally, it discusses analyzing risks by defining likelihood and impacts, identifying risk causes and consequences, and considering an organization's risk appetite when evaluating risks. The overall goal of the document is to provide an introduction to performing comprehensive risk assessments.
The document discusses project risk management from the perspective of a development institution. It provides definitions of risk, project, and project management. Project risk management involves planning, organizing, securing, and managing resources to control the effects of uncertainties on a project's objectives. The document outlines the roots of uncertainty in a project, types of risks, and the risk management process. It emphasizes that risk management should be integrated into an organization's culture and involve identifying, assessing, and prioritizing risks.
The document discusses risk assessment in laboratory settings. It explains that risk assessments are important to evaluate potential hazards of experiments and activities. Employers must analyze what could go wrong, the likelihood, and consequences to implement safety precautions. Risk assessments cover procedures, work environments, and substance handling, storage and transportation. Regulatory agencies inspect risk assessments to ensure compliance with health and safety laws and encourage improved safety practices.
This document discusses establishing the context for an organizational risk management program. It recommends defining objectives, metrics, and how the program supports business goals. Risk managers are under increased pressure to formalize processes given new scrutiny from boards and executives. The document also stresses the importance of understanding an organization's internal and external contexts to ensure risk management programs fit their environments and add value.
The document discusses various tools and methods for hazard and risk management. It describes 12 different tools/methods: self-protective measures, training and reinforcement, communication/incentives, risk definition, risk assessment, risk control hierarchy, proactive vs reactive approaches, CAPA process, product review requirements, hazard identification/assessment/control process, and statistical tools like control charts. For each, it provides an overview and potential applications in risk management.
How to Create a Risk Profile for Your Organization: 10 Essential StepsCase IQ
Understanding your organization’s risks is the first step in developing an effective anti-corruption compliance program. But for many businesses, identifying and understanding their risks is a complex process, involving research, analysis and cooperation from all levels of the organization. Since every company needs a robust compliance program, an effective risk analysis is crucial. The consequences of getting this step wrong can be astronomical.
Join anti-corruption experts Marc Tassé and Patrice Poitevin, as they outline the steps and tools necessary to create a risk profile for your organization.
The webinar will cover:
Tools to help determine areas of risk
Factors to evaluate
The importance of due diligence once risks are identified
Continuous evaluation of your compliance program
How to achieve accountability and transparency
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
Social What directed your interest to this.docxwrite12
The document discusses why the person is interested in social work. They grew up seeing friends' parents addicted to drugs and in foster care, directing their interest to help address problems like drugs, poverty, and lack of guidance. Their goals are to open a teenage shelter and drug rehab programs one day. They believe their dedication enables them to study and practice social work to help address important social issues.
Soap notes will be uploaded to Moodle and put through.docxwrite12
This soap note documents a visit for a 65-year-old male patient complaining of headaches for the past two weeks. On examination, the patient's blood pressure was elevated on multiple readings. The assessment is essential (primary) hypertension. The plan includes starting hydrochlorothiazide 25 mg daily, as well as lifestyle modifications and follow up with his primary care provider in one week to evaluate blood pressure control. No referrals are needed at this time.
The document describes the ISO 31000 risk management process. It includes establishing the context, risk identification, risk analysis, risk evaluation, risk treatment, communication and consultation, and monitoring and review. Various risk assessment tools are also listed for each step of the process, such as risk matrices for analysis and evaluation, and hierarchy of controls for risk treatment.
Safety Inspections and Sample Safety Inspection.Health and safety training D...Salman Jailani
Safety Inspections and Sample Safety Inspection.Health and safety training Definition of risk WHAT ARE PERMITS-TO-WORK
Mechanical Engineering
00923006902338
The document defines risk and issue, outlines the risk lifecycle and management cycle, and provides details on risk identification, analysis, assessment, and management. Key points include:
- A risk is a potential future event that could negatively impact objectives, while an issue is a current problem.
- The risk management cycle includes identifying risks, assessing them, selecting strategies, implementing controls, and monitoring/evaluating.
- Risk identification involves knowing the organization's assets and sources of risk. Risk analysis assesses the likelihood and impact of risks.
The document provides information about a webinar on ISO 31000:2018 Risk Management. It includes details such as the event date and time, speaker introduction, and session topics. The speaker, Sanjay Gore, will discuss ISO 31000:2018 including the risk management framework, principles, concepts and terms, and the risk assessment process. The webinar will cover the edifice, scope, and key components of ISO 31000:2018 including risk criteria, treatment options, and tools/techniques for risk assessment. Attendees are invited to provide feedback in the chat box.
5 Project Risk Identification Tools I Use & How You Can Use Them TooSHAZEBALIKHAN1
Risk is an inherent property of a project. Risk identification is the first step in risk management. The article details the 5 risk identification tools that have helped me in my projects. The explanation shall enable you to use the risk identification techniques for your projects.
Risk management Phase 1-5 Individual Project
Table of Contents
Introduction 3
Project Outline 3
Project risk identification 4
Project risk assessment 6
Project Risks, Responses Strategy 7
Project Risks Monitoring & Control Plan 10
Project Risks WBS & Budget Updates 11
Project Risks, Communications Plan 11
References 12
Introduction
The project that is planned by the company is to divest and move into a global perspective. Let’s ay for instance a possible expansion in the expansion of an oil refinery plant, such as a sulphur plant, my project will be to research Savage Gulf Sulphur Services. The project is supposed to ensure that the company will generate more revenue, and then it shall move into a global perspective. With the project, the company shall also increase its production due to large demand generated by the new market in the globe. Every project is faced with a certain degree of risk in the activities that it takes in an organization. It is important for organizations should carry out risk assessment procedures that are inclined in ensuring that an effective strategy shall be formulated to eliminate risk. This paper will discuss the risk management strategy and the processes that are taken in the management of risk in an organizational structure.
Project Outline
The project is it intended to increase the organized capacity and move into the global market structure. This will involve the purchase of new factors of production such as land, investors and business owners invest large amounts of capital to such investments. The project will also
Risk management justification
Risk management is identified and can be described as an assesment that has all these prioritization of risks, the management of risk could involve precise coordination and ecomonical application strategies with ereasons to minimize, control and monitor the probability and impact of unfortunate events. Risk management also helps in maximization and the act of realization of opportunities. In an organizational structure, risk management has a variety of functions which makes it an important department in an organization, based on the many roles that the risk management. This is the implementation of a strong and effective risk management and controls within securities firm, a helps in promoting stability throughout the entire firm. Risk management controls are divided into two categories. The internal and external control categories help in providing useful and effective control systems. The internal controls help in protecting the firms against market, credit, operational and legal risks. Secondly, it helps in protecting the financial industry from all the systemic risks in the organization structure (Merna, 2008)
Risk management is useful in protecting the firm's customers from enormous and large non-market related losses such as misappropriation of resources, fraud and firm failure. Such failures can result in enormous risk in the organization. R ...
Risk management involves identifying, assessing, and prioritizing risks, then applying resources to minimize their impact or maximize opportunities. There are typical business risks like strategic, operational, compliance and financial risks. Risk management processes include establishing the context, identifying risks, assessing them, developing risk strategies, implementing a risk management plan, reviewing and communicating. Key strategies for addressing risks include transferring risks, avoiding risks, reducing risks, and accepting risks.
Table of Contents
Introduction 3
Project Outline 3
Project risk identification 4
Project risk assessment 6
Project Risks, Responses Strategy 7
Project Risks Monitoring & Control Plan 10
Project Risks WBS & Budget Updates 11
Project Risks, Communications Plan 11
References 12
Introduction
The project that is planned by the company is to divest and move into a global perspective. Let’s ay for instance a possible expansion in the expansion of an oil refinery plant, such as a sulphur plant, my project will be to research Savage Gulf Sulphur Services. The project is supposed to ensure that the company will generate more revenue, and then it shall move into a global perspective. With the project, the company shall also increase its production due to large demand generated by the new market in the globe. Every project is faced with a certain degree of risk in the activities that it takes in an organization. It is important for organizations should carry out risk assessment procedures that are inclined in ensuring that an effective strategy shall be formulated to eliminate risk. This paper will discuss the risk management strategy and the processes that are taken in the management of risk in an organizational structure.
Project Outline
The project is it intended to increase the organized capacity and move into the global market structure. This will involve the purchase of new factors of production such as land, investors and business owners invest large amounts of capital to such investments. The project will also
Risk management justification
Risk management is identified and can be described as an assesment that has all these prioritization of risks, the management of risk could involve precise coordination and ecomonical application strategies with ereasons to minimize, control and monitor the probability and impact of unfortunate events. Risk management also helps in maximization and the act of realization of opportunities. In an organizational structure, risk management has a variety of functions which makes it an important department in an organization, based on the many roles that the risk management. This is the implementation of a strong and effective risk management and controls within securities firm, a helps in promoting stability throughout the entire firm. Risk management controls are divided into two categories. The internal and external control categories help in providing useful and effective control systems. The internal controls help in protecting the firms against market, credit, operational and legal risks. Secondly, it helps in protecting the financial industry from all the systemic risks in the organization structure (Merna, 2008)
Risk management is useful in protecting the firm's customers from enormous and large non-market related losses such as misappropriation of resources, fraud and firm failure. Such failures can result in enormous risk in the organization. Risk management also helps in the act or protecting the fi ...
18
MPM344 Project Risk Management
Medical Needs Risk Management
Connie Farris
11/21/2018
Table of Contents
Project Outline 3
Project Description 3
Method (Agile or Waterfall) 3
Risk Categories 4
Risk Register 6
Project Risk Analyses 9
Qualitative Risk Analysis 9
Project Risk Response Strategy TB 11
Risk Response Strategy 11
Plan for Reviewing Risk Responses 12
Identification of New Risks 14
Project Risk Communications Plan TB 15
Communications Matrix 15
Memo to the Project Sponsor 16
References 17
Project OutlineProject Description
The quality gauges of therapeutic devices contain numerous viewpoints, for example, plan control, Risk management, vendor management etc. (Singh, 2017) In this paper we are going to discuss the importance of Risk management for medical devices and steps to perform during the product development stage. Risk management is a critical part of the medical device product development lifecycle. (Singh, 2017) It enables medical device engineers to guarantee that the item is dependable, functions obviously and will be no damage to the patients, administrators or the earth. In other words, the main purpose of the Risk management cycle is to lessen or curb the odds of disappointment in the item.
Medical Needs is a company that designs and manufactures medical devices and will be opening a new company and would like for us to do the risk management involved with the materials used for these devices and the design to ensure the devices are compliant to all regulations during production. There are many areas we will cover during this project to ensure that a quality product is available for the public consumer. We are looking at completing this project in less than six months before the manufacturing process commences. We will look at everything from vendor, mechanical and that everything planned before the company is open will be as risk free as possible.
Method (Agile or Waterfall)
. We will be using an Agile Method to conduct this risk assessment. The agile methodology with more checkpoints, gives you a chance to refine what you are working for the client, and what they are at last given. (Tan, 2016) Agile gives the chance to take what you made, offer it to a customer, and bring out criticism. Considering the input, you can decide if you are going the correct way. (Tan, 2016) If changes are required, you give yourself the chance to adjust and alter. When creating medicinal devices, numerous sources of info that must be contemplated. Distinguish the requirements of the end client however comprehend the potential dangers that the item may present to end clients and guarantee that your item is adequately protected and powerful by structuring risk adjustment into your medical device.
When using the agile process, you must understand how the Risk management process fits in, and then consolidate that approach into the project development plan. (Tan, 2016) By using t.
This document provides an assessment guide for enterprise risk management. It examines whether an organization's risk management process is truly assessing risks rather than just controls. It questions if the risk assessment is context-driven and addresses the root causes of failures. It discusses how business performance can indicate unidentified or unmanaged risks. The document advocates that risks should be identified and assessed before controls, and that risks can provide insights into the effectiveness of controls. Overall, the document promotes adopting a risk-based approach to risk management rather than just focusing on controls.
Human Factors (HF) covers a variety of issues that relate primarily to the individual and workforce, their behavior and attributes. Human error is still poorly understood by many stakeholders and so the risk assessments of operations or process often fall short in their capture of potential failures. There is little consideration of human factors in the engineering design of equipment, operating systems and the overall process, procedures and specific work tasks. Operational human factor issues are often treated on an ad-hoc basis in response to individual situations rather than as part of an overarching and comprehensive safety management strategy. The role that human factors play in the rate of incidents, equipment failure and hydrocarbon releases is poorly understood and underdeveloped.
This document discusses concepts and approaches related to risk assessment and management. It begins by outlining the key objectives of risk assessment, which include identifying hazards, analyzing and evaluating risk likelihood and impacts, determining control measures, and documenting findings. It then describes various risk classification systems that categorize risks based on factors like political, economic, social, technological, legal, and environmental considerations. Finally, it discusses analyzing risks by defining likelihood and impacts, identifying risk causes and consequences, and considering an organization's risk appetite when evaluating risks. The overall goal of the document is to provide an introduction to performing comprehensive risk assessments.
The document discusses project risk management from the perspective of a development institution. It provides definitions of risk, project, and project management. Project risk management involves planning, organizing, securing, and managing resources to control the effects of uncertainties on a project's objectives. The document outlines the roots of uncertainty in a project, types of risks, and the risk management process. It emphasizes that risk management should be integrated into an organization's culture and involve identifying, assessing, and prioritizing risks.
The document discusses risk assessment in laboratory settings. It explains that risk assessments are important to evaluate potential hazards of experiments and activities. Employers must analyze what could go wrong, the likelihood, and consequences to implement safety precautions. Risk assessments cover procedures, work environments, and substance handling, storage and transportation. Regulatory agencies inspect risk assessments to ensure compliance with health and safety laws and encourage improved safety practices.
This document discusses establishing the context for an organizational risk management program. It recommends defining objectives, metrics, and how the program supports business goals. Risk managers are under increased pressure to formalize processes given new scrutiny from boards and executives. The document also stresses the importance of understanding an organization's internal and external contexts to ensure risk management programs fit their environments and add value.
The document discusses various tools and methods for hazard and risk management. It describes 12 different tools/methods: self-protective measures, training and reinforcement, communication/incentives, risk definition, risk assessment, risk control hierarchy, proactive vs reactive approaches, CAPA process, product review requirements, hazard identification/assessment/control process, and statistical tools like control charts. For each, it provides an overview and potential applications in risk management.
How to Create a Risk Profile for Your Organization: 10 Essential StepsCase IQ
Understanding your organization’s risks is the first step in developing an effective anti-corruption compliance program. But for many businesses, identifying and understanding their risks is a complex process, involving research, analysis and cooperation from all levels of the organization. Since every company needs a robust compliance program, an effective risk analysis is crucial. The consequences of getting this step wrong can be astronomical.
Join anti-corruption experts Marc Tassé and Patrice Poitevin, as they outline the steps and tools necessary to create a risk profile for your organization.
The webinar will cover:
Tools to help determine areas of risk
Factors to evaluate
The importance of due diligence once risks are identified
Continuous evaluation of your compliance program
How to achieve accountability and transparency
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
Social What directed your interest to this.docxwrite12
The document discusses why the person is interested in social work. They grew up seeing friends' parents addicted to drugs and in foster care, directing their interest to help address problems like drugs, poverty, and lack of guidance. Their goals are to open a teenage shelter and drug rehab programs one day. They believe their dedication enables them to study and practice social work to help address important social issues.
Soap notes will be uploaded to Moodle and put through.docxwrite12
This soap note documents a visit for a 65-year-old male patient complaining of headaches for the past two weeks. On examination, the patient's blood pressure was elevated on multiple readings. The assessment is essential (primary) hypertension. The plan includes starting hydrochlorothiazide 25 mg daily, as well as lifestyle modifications and follow up with his primary care provider in one week to evaluate blood pressure control. No referrals are needed at this time.
Poverty is one of four social issues that students must write a 400-450 word mini-essay about for a class assignment. The assignment requires students to choose three social issues to write about, with the fourth essay topic being on poverty. All four mini-essays must be combined into a single document and meet the 1,200 total word count for the assignment.
1) This soap note document outlines the typical sections and information included in a soap note for a patient with diabetes mellitus. It includes sections for identifying data, subjective data, objective data, assessment, and plan.
2) The subjective section includes symptoms, review of systems, past medical history, family history, social history, and allergies/medications as they relate to the complaint.
3) The objective section includes vital signs, physical exam findings described in detail for relevant systems, and any abnormalities fully described.
Social disorganization refers to the inability of a community to realize common values or solve emerging problems. Socially disorganized neighborhoods typically have high rates of poverty, residential mobility, and ethnic heterogeneity which undermine the ability of a community to exercise informal social control. Research shows that socially disorganized areas tend to have weaker social ties between neighbors and higher crime rates.
This document provides instructions for a SOC101 assignment where students are asked to interview someone over age 65 about their experiences with age and happiness. The interview is meant to help students connect course concepts to real life by gaining perspectives from other demographics. Students are given qualitative questions to ask and should write a substantive report summarizing the conversation rather than providing a full transcript, keeping the subject anonymous.
This presentation discusses the diagnosis and treatment of bipolar disorder and major depressive disorder based on a case scenario. It outlines the diagnostic criteria and symptoms of bipolar disorder and major depressive disorder, describing treatment strategies and interventions for each, such as medications and therapies. The presentation concludes with a reference page.
Social media sites have recently drew decision attention and influenced.docxwrite12
Employers are increasingly using social media to evaluate potential job candidates, with sites like LinkedIn and Facebook providing profiles and information to aid hiring decisions. However, social media may not always accurately reflect candidates and could include fake or misleading information, making it difficult for employers to properly assess candidates and determine the right fit based on online profiles alone. More research is needed to understand how social media has impacted hiring and how employers can mitigate risks of relying too heavily on digital profiles.
This document discusses researching scholarly references related to designing a smart desk for the elderly to address needs and find similar existing designs. It requests 8 articles on the project topic or similar topics be cited and summarized in 3-4 sentences each. An abstract and analysis are also needed. The tasks outlined in another file have not all been completed yet, but existing research is related to the smart desk project and more details still need to be found.
Social cognition is the mental activity relating to social.docxwrite12
Social cognition helps us understand our own and other people's behavior through mental processes. It allows for quick thinking through cognitive heuristics but can sometimes lead to errors in judgment. Schemas and attitudes can change through accommodation when new information is incorporated or remain the same through assimilation when new information is fit into the existing schema. Cognitive heuristics used in social judgments can influence those judgments and possibly lead them to be incorrect.
Social Context Ethics Prior to beginning work on the.docxwrite12
This document discusses the importance of considering social context and ethics when conducting evaluations. Students should read all required resources before participating in the discussion forum. They should put their final paper topic in its appropriate social context, identify ethical considerations, and explain the political issues associated with the proposed evaluation, focusing on socioeconomic, race, gender, and government factors. Students should also discuss the most surprising thing they found in their research that caused them to reevaluate a previously held opinion.
The document requests a process flow diagram be drawn in Microsoft Visio showing the flow between process units, including: raw material tanks, splitting columns, fractionation columns, an amidation reactor, distillation, and crystallization. Valves, pumps, reboilers, and reflux tanks should be added with streams and directions between each unit process, with an emphasis on accurately drawing the distillation unit.
This document outlines two modules for a course on consciousness. The first module asks students to critically assess whether one of three models of consciousness addresses the hard problem of consciousness. The second module asks students to critically assess whether we will eventually be able to objectively read conscious contents or if the ultimate authority on conscious experience will always remain subjective to the individual.
Social media and its data are both a challenge and.docxwrite12
Social media data presents both challenges and opportunities for managers. The document instructs students to use Orange software to analyze sentiment in text data from tweets, either by accessing a Twitter developer account or using sample tweet data files provided. Students are asked to submit a zipped file with their completed Orange project file analyzing sentiment and a sentiment analysis Excel file.
Social media sites like Facebook and Twitter encourage users to disclose personal information about themselves, leading to privacy concerns. While these sites allow people to stay connected, some users overshare details that get them into trouble like jobs lost or college admissions denied due to offensive posts. Experts say most students are aware of privacy settings, but stories still emerge of poor judgment in self-disclosures online. Parents joining social media can also impact relationships with college-age children and force both parties to balance openness and privacy as family networks overlap online.
This chapter discusses long-term and planned helping that takes place through organizations or to address needs where little support already exists. Long-term helping can include volunteering regularly at an established charity, food bank, or shelter. It also includes identifying an ongoing community need, like a lack of access to healthcare or education, and developing a new program to address it. Planned helping requires more forethought and commitment than spontaneous acts of kindness. It often involves regularly donating time, skills, or money to an cause over an extended period. Key aspects of long-term helping include identifying meaningful and impactful causes, planning initiatives, and sustaining involvement through coordination and collaboration.
Companies can use social media to find and attract job candidates in several ways. They can post job openings on platforms like LinkedIn, Facebook, and Twitter to reach a wide audience of potential applicants. They can also follow hashtags related to their industry or monitor social profiles of candidates to identify strong fits. Current employees can help by endorsing candidates through their own networks. Social media allows companies to screen candidates and get a sense of their online reputation before deciding who to interview.
This document outlines the requirements for a sleep report assignment. Students are asked to:
1) Discuss their average sleep data and any variation across the week, noting what may have caused differences and whether they were surprised by any observations.
2) Analyze their sleep in the context of course materials, referring to a lecture topic and suggesting ways to improve their sleep or maintain good sleep habits.
The assignment is to be 1 page single-spaced and will be graded on data overview, data discussion, and writing mechanics.
This document provides instructions for submitting a literature review on the topic of social media and consumer behavior. The literature review should synthesize key concepts from selected sources rather than discussing each source individually. It should describe the area of research and justify the choice. It should summarize sources related to theoretical background, history of the topic, best research practices, significance to the field of psychology, need for new research, respect for diversity, and organize sources thematically. The literature review will assess the current state of knowledge and implications for stakeholders.
This document discusses social media policies in the workplace. It asks several questions: 1) Whether employees should be able to post anything on social media without career consequences. 2) What a new manager should do if employees exclude and criticize them on a group chat. 3) What key components an HR director should include in a social media policy, such as protecting company reputation and handling inappropriate posts. 4) Whether a job applicant should disclose old politically active social media posts from college that may come up in a background check, or not disclose and be prepared to defend the posts.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Answer the quetions.docx
1. (Mt) – Answer the quetions
Risk Management Peer-Reviewed Risk Assessments Top 10 Pitfalls & Tips for Improvement
By Bruce K. Lyon and Bruce Hollcroft O rganizations face a wide range of risks each day that
can affect their ability to achieve certain business objectives and stay in business. Risk
assessment is an important and sophisticated process used to assess an organization’s risks
so that it can mitigate and reduce risks to an acceptable level. Over the past 30 years as risk
control consultants, the authors have performed, facilitated, participated in and observed
thousands of risk assessments for almost all industry types and sizes. Based on those
experiences, they have concluded that many organizations fail to perform effective risk
assessments. This article describes the authors’ top 10 reasons organizations fail to perform
good risk assessments and provides advice on avoiding these failures. Most of these
observations can be tied IN BRIEF directly to key com•Risk assessment is a tool used to
assess operational risks so an organization can effective- ponents found in two consensus
standards: ly mitigate and manage risks to an acceptable •ANSI/ASSE level. Unfortunately,
many organizations fail to Z590.3-2011, Prevenperform quality risk assessments. tion
Through Design, •In 2011, two consensus standards establishGuidelines for Ading guidance
on the risk assessment process dressing Occupational were released: ANSI/ASSE Z590.3,
Prevention Hazards and Risks in Through Design, and ANSI/ASSE Z690.3, Risk Assessment
Techniques. They represent a new Design and Redesign Processes; emphasis on the role of
risk assessment in the •ANSI/ASSE safety profession. Z690.3-2011, Risk As•SH&E
professionals should become familiar sessment Techniques. with these standards, and
strengthen their This article reviews proficiency and skills in performing risk askey steps in
performsessments. ing successful risk asBruce K. Lyon, P.E., CSP, ARM, CHMM, is director of
risk control with Hays Cos., a commercial insurance brokerage firm. He holds a B.S. in
Industrial Safety and an M.S. in Occupational Safety Management/Fire Science from the
University of Central Missouri. Lyon is a professional member and past president of ASSE’s
Heart of America Chapter and a recipient of the Region V Safety Professional of the Year
Award. He is advisory board chair to the University of Central Missouri’s Safety Sciences
Program. Bruce Hollcroft, CSP, ARM, CHMM, is director of risk control with Hays Cos. He
holds a B.S. in Industrial Safety from the University of Central Missouri. Hollcroft is a
professional member of ASSE and past president of both the Heart of America and
Columbia-Willamette chapters. He also has chaired the Oregon Governor’s Occupational
Safety and Health Conference. 28 ProfessionalSafety DECEMBER 2012 www.asse.org
sessments, preparing for common challenges, and expanding overall knowledge and skill in
2. applying risk assessment techniques. Effective SH&E Management Systems The ultimate
goal of an occupational SH&E management system is to continually improve performance,
and to minimize risk and associated costs of occupational incidents as indicated by
ANSI/ASSE/ AIHA Z10-2012, Occupational Health and Safety Management Systems, and
similar management system standards and guidelines. For such a system to reach this goal,
risks must be continually identified, analyzed and evaluated to understand their potential
for occurring and their magnitude of loss, as well as existing controls and needed
improvements. This key element is known as risk assessment. Risk Assessment & Recent
Standards Risk assessments are common in Europe, Australia, New Zealand, Canada and
other parts of the world. In the U.K., risk assessments have been legally required since 1999
by the Health and Safety Executive. However, few risk assessments are mandated in the U.S.,
with the exception of OSHA 29 CFR 1910.119, Process Safety Management of Highly
Hazardous Chemicals, and EPA 40 CFR Part 68, Risk Management Plan. In 2011, two ANSI
standards addressing risk assessment were released. ANSI/ASSE Z590.3, Prevention
Through Design, Guidelines for Addressing Occupational Hazards and Risks in Design and
Redesign Processes, represents a milestone in the safety profession. Fred Manuele, who has
deep roots in the safety through design movement, led efforts to develop Z590.3, which
began as a technical report (ASSE TR-Z790.001) in 2009. ANSI/ASSE Z690.3, Risk
Assessment Techniques, one of three risk management standards adopted from ISO,
provides detailed guidance on selecting and applying risk assessment techniques as part of
the risk management process. These standards provide a solid foundation for the safety
profession to build on in terms of risk assessments (Figure 1). The term risk assessment is
often misused. In the authors’ experience, some have referred to hazard inspections, hazard
surveys and compliance audits as risk assessments. According to ANSI/ASSE Z690.1-2011,
Vocabulary for Risk Management, risk assessment has three distinct components: Figure 1
Risk Management Process •risk identification, which involves finding, recognizing and
recording hazards; •risk analysis, which entails understanding consequences, probabilities
and existing controls; •risk evaluation, which encompasses comparing levels of risk and
considering additional controls. Since risk assessment is fundamental to the risk
management process, SH&E professionals must be clear on what a risk assessment entails
and how it is performed. This article describes 10 reasons why organizations fail to perform
good risk assessments, and reviews key strategies to avoid these problems and improve the
risk assessment process. The authors selected these particular failures based on their direct
and indirect work experience as safety consultants in the insurance and SH&E consulting
industries. Although the method used to select these common failures is not based on
statistical data, the selected failures correlate with primary requirements found in
ANSI/ASSE Z590 and Z690. Reason 10: Fail to Perform a Formal Assessment In many cases,
risk assessments are simply not performed. Consider, for example, the Deepwater Horizon
explosion. According to estimates, the losses from the offshore oil rig disaster caused 11
fatalities, cost $40 billion and released 4.9 million barrels of oil into the Gulf. BP’s internal
investigation team concluded that a key cause of the explosion was that no risk assessment
had been performed on the cement slurry barrier application. According to the team’s
report, “The investigation team has not seen evidence of a documented risk assessment
3. regarding annulus barriers” (BP, 2010, p. 36). The accuracy of cement slurry barriers was
described as “critical” in the report, yet no formal risk assessment was performed.
Unfortunately, BP is not alone. In ASSE’s (2011) webinar, “Prevention Through Design:
Guidelines for Addressing Occupational Hazards and Risks in Design and Redesign
Processes,” presenter Bruce Main quoted a study conducted by a Fortune 500 company
which indicated that 65% of serious incidents had no previous risk assessment. This
number may be indicative of other Fortune 500 companies, and supports the authors’
experience that many smaller companies perform few, if any, risk assessments.
Organizations can cite many reasons to not perform risk assessments: •belief that since no
significant incidents have occurred, the organization has adequately assessed and managed
risks by informal means; •reliance on insurance coverage and outside risk control services
to manage risks; •misconception that simple hazard identification and correction methods
are adequate; •hazards-based and compliance-type approach; •fear of discovering and
documenting certain risks that may be difficult to address or mitigate; •lack of knowledge
and/or resources to perform a risk assessment internally; •no mandate or corporate
requirement to perform risk assessment.
Establishing the context (5.3) Risk assessment (5.4) Risk identification (5.4.2)
Communication and consultation (5.2) Risk analysis (5.4.3)
Monitoring and review (5.6) Risk evaluation (5.4.4) Risk treatment (5.5) Note. Adapted
from ANSI/ASSE Z690.2-2011, p.21, by ANSI/ASSE, 2011, Des Plaines, IL: Author. In the U.S.,
many organizations have relied on checklist-and-hazard-inspection methods that focus on
regulatory compliance, and prescribed hazards and conditions to evaluate workplace safety
and health. Unfortunately, such methods do not provide a true measure of risk. An
organization should have a strategy to determine where, when and how risks must be
assessed as described in ANSI Z690.3 Section 4.2, Risk Assessment and the Risk
Management Framework (p. 12). Basic criteria for establishing the need for risk assessment
may include: •projects or tasks that have not had a formal risk assessment; •new facilities,
processes or equipment; •when several risks are present or introduced that make it
necessary to apply risk priorities in an organized manner; •when a risk could have serious
consequences and where control measures are unclear; •where there is a planned change to
equipment, machinery or a particular process (as outlined in ANSI Z10, 5.1.2, Design Review
and Management of Change). Lack of proper risk assessment can lead to catastrophic
results. Risks must be continually identified, analyzed and evaluated to understand their
potential for occurring and their magnitude of loss, as well as existing controls and needed
improvements. Reason 9: Fail to Define the Context & Objectives of the Assessment Without
appropriate guidance, a risk assessment may wander aimlessly and far from its intended
purpose. A quality risk assessment starts with establishing the objectives and context by
defining basic parameters, scope and criteria. The purpose and scope of a risk assessment
should be determined by those who will use the resulting information to make informed
decisions. The purpose should be concise and avoid complex statements; it should be
written so that everyone on the team can continuously refer to it in order to stay focused
and avoid wandering too www.asse.org DECEMBER 2012 ProfessionalSafety 29 Figure 2
The ALARP Principle The ALARP Principle Unacceptable Region ALARP Region Steps must
4. be taken to reduce risk to as low as reasonably practicable. 4 Immediate action required.
Operation not permissible, except in rare and extraordinary circumstances. 3 Remedial
action is to be given high priority. 2 Remedial action to be taken at appropriate time. 1
Remedial action is discretionary. Procedures are to be in place to ensure that this risk level
is maintained. Negligible Risk Note. Adapted from ANSI Z690.3, by ANSI/ASSE, 2011, Des
Plaines, IL: Adopted from ANSI Z690.3; Manuele Author. The potential for harm must be
reduced until the cost of further reduction is disproportionate to the benefit gained— to the
level of as low as reasonably practicable. far from the intended goal. Following is a sample
purpose statement once used by the authors (although words such as
“emergencies/disasters” and “impact” many need to be more precisely defined): “The
purpose of this risk assessment is to determine the potential emergencies/disasters that
could have the most impact on the organization.” Communicating the purpose and scope to
the risk assessment team should include a common understanding of terminology to be
used. For example, when using qualitative risk analysis, a clear explanation of the terms
used and their meanings should be communicated and understood by the assessment team
and management (ANSI/ASSE 2011c, p. 18) Determining the assessment’s scope can be
even more complicated than its purpose, but it is as important to the success of the risk
assessment. The endeavor needs a tightly defined beginning and end so the team is not
tempted to take it further than intended or make it too complicated. For example, the
assessment of potential emergencies/disasters might need some limitations. Should the
assessment address only emergencies/ disasters at facility sites or should it include offsite
events? Should it include natural, man-made or technological emergencies/disasters, or all
of them? Setting the scope too narrow might prevent a hazard and the resulting risk from
being identified and assessed; setting it too broad could prevent the risk assessment from
achieving its true purpose. Again, input from those who will use the risk assessment to
make decisions is crucial. Reason 8: Fail to Understand an Organization’s Acceptable Risk
Level An organization must define its acceptable risk levels and incorporate them into the
risk assessment process. Otherwise, paralysis by analysis will lead to wasting time and
resources on acceptable risks, and possibly stall or short-circuit the process. For example,
an organization with new management declared that every facility would perform a
thorough risk assessment. With no specific guidance about the type or level of risks to
include, many risks, including trivial ones, were collected; unfortunately, resources were
consumed without identifying some important and serious risks. One 30 ProfessionalSafety
DECEMBER 2012 www.asse.org of these unidentified risks later caused a serious fire and
explosion. Had the organization defined and communicated acceptable risk levels and risk
assessment criteria, the risk may have been identified and the incident avoided. Manuele
(2010) suggests that safety professionals have not yet fully embraced the concept of
acceptable risk. Some organizations promote zero risk as their primary SH&E goal.
However, some residual risk will always remain. As described in ANSI/ ASSE/AIHA Z10,
Appendix F, safety and health management goals should be specific, measurable, actionable,
realistic and time-oriented. A zero risk goal is not realistic and should be redefined to an
achievable and acceptable level for the organization. What is an achievable and acceptable
level of risk? ANSI Z690.3 explains that the potential for harm must be reduced until the
5. cost of further reduction is disproportionate to the benefit gained—to the level of as low as
reasonably practicable (ALARP, Figure 2). The criteria used to determine this level should
include the organization’s SH&E goals and the use of cost-benefit analyses of risks and their
treatment; it also will be influenced by its culture and industry setting (ANSI/ASSE 2011c, p.
21). Typically, as an organization matures and improves its risk control measures, the
acceptable risk level will move closer to the negligible risk level. Reason 7: Fail to Assemble
the Best Team to Perform the Risk Assessment Depending on the assessment’s scope, a
team of objective, knowledgeable, experienced and complementary personnel should be
created. Unfortunately, some risk assessments are performed from a less-than-objective
viewpoint or a single perspective. For example, a company near the Port of Oakland, CA,
initially failed to include security in its risk assessment for emergency planning purposes.
After the authors suggested that security be involved, civil unrest and train derailments
were identified as significant risks. Soon after, Occupy Oakland occurred and the area was
closed, but the company was prepared because it had included security. In some cases, risk
assessments are performed just to document them in order to meet some internal or
external requirement. Such assessments are often performed by limited teams and may be
led by a dominant individual who is primarily focused on completing the task. Experience
has shown that this leads to incomplete risk assessments where some hazards are not
identified and risks are not fully assessed. Teams of three to 10 competent members seem
to work well. Such teams usually offer sufficient perspectives on a risk assessment, yet are
not too large to manage and keep focused. Team members should be selected based on their
knowledge, experience and commitment to the effort, and will vary depending on the
hazards and risks being assessed. For example, a team assessing a product might include
representatives from research and development, design, engineering, production, quality,
legal, sales, service, risk management and safety. A transportation risk assessment might
include a driver, routing/scheduling, DOT compliance, service and maintenance, risk
management and safety. These members can be directed to gather input from their
departments if the process is not confidential because external parties often contribute to
the risk assessment. Risk assessments are excellent opportunities for employee
involvement, which is critical to the success of any safety effort. Employee involvement is
required by all safety management system standards (e.g., ANSI/ASSE Z10, OHSAS 18001,
OSHA VPP). It also is required by some state OSHA regulations and specific regulations such
as OSHA’s process safety management standard. Employee involvement leads to a better
risk assessment. Reason 6: Fail to Use the Best Risk Assessment Techniques To achieve
desired results, an organization must properly match the technique used to the exposure.
Many techniques are not well understood or used properly. Experience is important in
proper selection and application. In some cases, it may be necessary to use more than one
method. For example, a large die-casting operation relied strictly on checklist audits to
identify and correct hazards. The checklists were not regularly reviewed or updated, and
did not include specific risks such as condition and control of aluminum for the furnace. As a
result, scrap aluminum containing moisture was placed in the furnace and a serious
explosion of molten metal critically injured several employees. Many different risk
assessment techniques exist, some complex (quantitative) and specific, and others more
6. basic (qualitative) and broad in applica- tion. Certain techniques have specific applications.
For example, hazard analysis and critical control points is often used in food and beverage
processing. ANSI/ASSE Z690.3 describes 31 different techniques (pp. 22-25; Figure 3),
while ANSI/ASSE Z590.3 features eight. Three risk assessment techniques are highlighted in
ANSI Z590.3 as being more practical for most risk situations: preliminary hazard analysis,
what-if/checklist analysis, failure modes and effects analysis (FMEA) (Figure 3). The
technique selected should be justifiable and appropriate for the situation; provide useful
results; and be traceable, verifiable and consistent. Selection criteria should be based on the
assessment’s defined context and objectives (Reason 9) and should consider the following:
•complexity of problem; •type and range of risks; •potential magnitude; •risk assessment
team’s degree of experience; •available data; •regulatory requirements. In some cases, more
than one technique may be needed. For example, an organization can use brainstorming to
develop a list of concerns and qualified risks, then prioritize risks using a risk matrix
(Figure 4, p. 32); this can be followed by a breakdown of each concern using a fishbone
diagram or causeand-effect analysis. However, specific concerns, such as ergonomic risk
factors, may not be fully identified or measured using standard risk assessment techniques.
Specific tools that focus on ergonomic risks, such as the rapid upper limb assessment, the
Snook tables, NIOSH’s lifting formula and similar tools, are available to assess ergonomic-
related risk factors. The assessment and its output should be consis- Figure 3 Risk
Assessment Tool Attributes
Relevance of Factors Type of Risk Assessment Technique Description Resources and
Capability Nature and Degree of Complexity Uncertainty Can Provide Quantitative
Output LOOK-
UP METHODS Checklists Preliminary Hazard Analysis A simple form of risk identific
ation Low Low Low No Identify hazards and situations that cause them Low High
Medium No The technique selected should be justifiable and appropriate for the
situation; provide useful results; and be traceable, verifiable and consistent.
SUPPORTING METHODS What-
If Used by team to identify risks Medium Medium Any No What if/Checklist Analy
sis team identify risks using lists Medium Medium Any No SCENARIO ANALYSIS F
ault Tree Analysis MORT Tree diagram starting with undesired event Identifys post-
incident design/procedural causes High High Medium Yes Medium Medium Mediu
m No FUNCTIONAL ANALYSIS HAZOP Criticalities of deviations assessed Medium H
igh High No FMEA Identifies failure modes and their effects Medium Medium Medi
um Yes Note. Adapted from ANSI Z690.3, Table A.2, by ANSI/ASSE, 2011, Des Plaines, IL:
Author. www.asse.org DECEMBER 2012 ProfessionalSafety 31 Figure 4 Risk Assessment
Matrix
Frequency (likelihood of occurrence) Every year 1 to 5 years 5 to 10 years > 10 y
ears Almost never Incidental 10 15 20 25 8 12 16 20 6 9 12 15 4 6 8 10
2 3 4 5 tent with the risk criteria established in the assessment’s scope and purpose. As
noted, ANSI/ASSE Z690.3 contains extensive information on 31 different risk assessment
techniques. Annex A provides a table (Comparison of Risk Assessment Techniques) that
7. lists each technique’s application and attributes to help users make the proper selection,
and Annex B provides greater detail on each technique’s uses, strengths and limitations.
Reason 5: Fail to Be Objective & Unemotional in the Risk Assessment Process An objective,
experienced facilitator can keep the risk assessment focused on its purpose and goals.
Sometimes, team members can be too close to the situation or be less-than-objective due to
past experience. An experienced facilitator can keep the process objective. If team members
have a memorable experience, they may exaggerate the real potential frequency and
severity. Reading a dramatic article, hearing a dynamic speaker or a recent news feature
also can skew perceptions. In addition, each member has personal issues that tend to be
overvalued. This can interfere with the process, especially if it comes from a member with a
strong personality. The effects of such issues can be moderated by a well-rounded
assessment team or an experienced facilitator. The right comparisons can be made, and
questions can be asked to bring the perception back in line with reality. This must be done
with much care and consideration so as to not discredit or alienate a member with a strong
position on an issue. Reason 4: Fail to Identify Hazards That Create Risks & Consider
Combined Whole-System Risk If a hazard is not recognized or is simply missed, the
resulting risk is not assessed. The authors have observed some assessments that identified
physical hazards, yet failed to uncover less obvious hazards such as occupational health
exposures. Therefore, the SH&E professional should consider the systems approach while
performing risk assessments. Consider this example. A large manufacturing operation
initiated a corporate-wide effort to identify and manage its risks. The scope of the
assessment process was broad and was conducted by plant personnel who had limited
training. The assessors identified safety-related hazards, but did not recognize potential
health risks related to operations such as coating and finishing tasks. Industrial hygiene and
ergonomic risks were present, but were not identified. Other significant risks were missed
in some plants. The inconsistencies and missed risks had to be addressed in a second
assessment by an outside consulting group. Risk assessments performed by a single indi- 32
ProfessionalSafety DECEMBER 2012 www.asse.org vidual have limited value as well. An
individual’s experience level, knowledge and skill in hazard identification will dictate the
assessment’s direction and focus. If an organization does not use a wellrounded assessment
team to capture a broader spectrum of risks (Reason 7), the assessment is left to the
individual risk assessor’s comfort level with certain types of exposures (e.g., machine
guarding, electrical, ergonomics, industrial hygiene), which limits the results. Depending on
complexity, a false sense of security may develop, with critical risks remaining unidentified
and untreated. The potential effect of combined risks also may be missed. Risk assessment
teams that identify and catalog individual hazards as line items may miss the potential for
certain risks occurring at the same time and producing synergistic effects. For example,
FMEA typically takes each failure as a single event and analyzes each failure individually for
its causes and effects. Certain combinations of risks create greater risk. For instance, in the
meat processing industry, cold temperatures combined with hand-arm vibration from
pneumatic hand tools increase risk of soft-tissue damage (ANSI/ ASSE 2011a, Section 7.4.5).
Sound risk assessments account for the combined or synergistic effects of multiple risks
rather than view them as mutually exclusive. Whole-system risk must be considered in the
8. assessment process to properly manage actual risk. Reason 3: Fail to Consider the
Hierarchy of Controls & Fail to Prioritize Based on Risk PPE and administrative measures
should not be the default choice. Although they may be the easiest to implement, they are
the least effective and reliable. Failure to properly apply the hierarchy of controls often
results in a failure to control risk to an ALARP level. An organization should have a strategy
for prioritizing control measures based on risk level and degree of exposure to optimize
efforts and resources. ANSI/ASSE Z590.3 addresses the hierarchy of controls, as well as
selecting and implementing risk reduction and control methods. ANSI/ASSE Z690.3 also
covers controls assessment. Both require consideration of the hierarchy on initial risk
assessment and those performed after controls are implemented. The hierarchy presents
controls in order from most effective to least effective (Figure 5). Applying this hierarchy
properly should become second nature for every SH&E professional and standard practice
for organizations. It serves to assess risk more accurately and helps continuously improve
controls. Reason 2: Fail to Perform Risk Assessment During the Design/Redesign Phase
ANSI/ASSE Z590.3-2011 emphasizes the importance of using risk assessment during the
design/ redesign stage. While this seems obvious, organizations rarely perform a thorough
risk assessment during design and redesign phases. Consider this example. While designing
a new manufacturing facility, a large global organization Figure 5 Hierarchy of
Controls Note. Adapted from ANSI/ASSE Z590.3-2011, p. 24, by ANSI/ASSE, 2011, Des
Plaines, IL: Author. held a planning session to determine the tasks, resources and timetables
needed to open the new operation. The planning session involved production, engineering,
maintenance, quality, human resources, SH&E personnel and one of the authors. As the
planning team worked through the steps, the author suggested that a risk assessment was
necessary. The group did not see this as a feasible time to conduct an assessment and was
more comfortable performing it after the facility, equipment and employees were in place.
The group believed the corporate design and engineering department was addressing
necessary requirements. On its Prevention Through Design website, NIOSH states: One of
the key elements of this standard is that it provides guidance for “life cycle” assessments
and a design model that balances environmental and occupational safety and health goals
over the life span of a facility, process or product. The standard focuses on the four key
stages of occupational risk management. The pre-operational, operational, post incident and
post-operational stages are all addressed within. The fact that operations, equipment and
products have a life cycle and that risk may change during various stages of the cycle should
be considered in the risk assessment. Figure 6 depicts how ANSI Z590.3 illustrates the
typical design concept through decommissioning process. The standard explains the use of
risk avoidance in the early design phase: In the early design phases, there are no risks, yet,
to be avoided, eliminated, reduced or controlled. Designers start with a blank sheet of
paper, or a blank screen in a CAD system. They have opportunities to avoid hazards
altogether in the design concept, preliminary design and detailed design stages. (p. 45) In
the authors’ experience, many ill-conceived workplace designs force at-risk practices and
conditions that lead to operator error and injury. However, many organizations do not even
think about assessing risk during design and redesign stages, thus missing an opportunity
to save money and mitigate risks. Instead, they wait to address risks until project
9. completion or installation, and many times not until an incident or significant loss occurs.
This approach is aided by: •inadequate education and training in safety principles for most
designers and engineers; •tradition and culture; •lack of forethought and planning time
built into the design process. As outlined in ANSI/ASSE Z590.3, organizations should
develop strategies for conducting design safety reviews at the design stage and risk
assessments at critical life-cycle phases of facilities, installations and equipment. It also
should incorporate risk assessment into the management of change process and include
risk assessment requirements for suppliers. Risk assessment at the design/redesign phase
may be the most overlooked risk management tool available to organizations. Simply put,
risk assessments should be a standard practice during the design and redesign phase.
Reason 1: Fail to Communicate . . . Before, During & After the Risk Assessment Successful
risk assessment depends on effective communication with stakeholders before, during and
after the process, otherwise the result will be a less-effective assessment. A quality risk
assessment involves stakeholders throughout the process and seeks their input.
Stakeholders include internal personnel, as well as customers, investors, partners, suppliers
and vendors. Investigators determined that NASA’s space shuttle Columbia explosion on
Feb. 1, 2003, which claimed seven lives, was partially due to a lack of effective
communication of critical safety information. They concluded that organizational causes,
including lack of communication, contributed to the incident. Cultural traits and
organizational practices detrimental to safety were allowed to develop, including: reliance
on past success as a substitute for sound engineering practices . . . organizational barriers
that prevented effective Successful risk assessment depends on effective communication
with stakeholders before, during and after the process. A quality risk assessment involves
stakeholders throughout the process. Figure 6 Typical Design Concept Through
Decommissioning Note. Adapted from ANSI/ASSE Z590.3-2011 , by ANSI/ASSE, 2011, Des
Plaines, IL: Author. www.asse.org DECEMBER 2012 ProfessionalSafety 33 communication
of critical safety information and stifled professional differences of opinion; lack of
integrated management across program elements; and the evolution of an informal chain of
command and decisionmaking processes that operated outside the organization’s rules.
(CAIB, 2003, p. 9) Communication is a provision of both ANSI/ ASSE Z690.3 and ANSI/ASSE
Z590.3. Communication also is required by virtually all safety and health management
standards such as ANSI/ASSE Z10, OHSAS 18001 and OSHA VPP, yet it is seldom done well.
As a result, poor communication is often identified as a major contributor to poor outcomes
such as injuries. As with many other functions, people should make it a priority to
communicate effectively when performing risk assessments. Those involved should
consider who could help them conduct the risk assessment more effectively. For example,
they could ask members of their departments for input. Alternatively, they should think
about who might be interested and benefit from the risk assessment that is being
performed, and share the outcome. Conclusion SH&E professionals should have a firm
understanding of the risk assessment process and techniques described in ANSI/ASSE
Z590.3 and ANSI/ ASSE Z690.3. To avoid the 10 failures described, SH&E professionals
should consider these principles and practices in the risk assessment process: 10) Perform
a formal risk assessment. 9) Define the assessment’s context and objectives. 8) Understand
10. the acceptable risk level. 7) Assemble the best team to perform the risk assessment. 6) Use
the best risk assessment technique(s). 5) Be objective and unemotional in the risk
assessment process. 4) Identify hazards that create risk, and consider whole-system risk. 3)
Apply the hierarchy of controls and prioritize based on risk. 2) Perform risk assessment
during the design/ redesign phase. 1) Communicate before, during and after the risk
assessment. Well-executed risk assessments enable organizations to make the right
decisions, protect their assets, and properly manage their risks as they operate, grow and
improve their businesses. SH&E professionals must be leaders in the risk assessment
process. PS References ANSI/ASSE. (2011a). Prevention through design: Guidelines for
addressing occupational hazards and risks in design and redesign processes (ANSI/ASSE
Z590.32011). Des Plaines, IL: Author. ANSI/ASSE. (2011b). Risk management principles and
guidelines (ANSI/ASSE Z690.2-2011). Des Plaines, IL; Author. ANSI/ASSE. (2011c). Risk
assessment techniques 34 ProfessionalSafety DECEMBER 2012 www.asse.org (ANSI/ASSE
Z690.3-2011). Des Plaines, IL; Author. ANSI/ASSE. (2011d). Vocabulary for risk
management (ANSI/ASSE Z690.1-2011). Des Plaines, IL: Author. ANSI/ASSE/AIHA. (2012).
Occupational health and safety management systems (ANSI/ASSE/AIHA Z102012). Des
Plaines, IL: Author. ASSE. (2011, Nov. 30). Prevention through design: Guidelines for
addressing occupational hazards and risks in design and redesign processes [Webinar].
Retrieved from http://eo2.commpartners.com/users/asse/session .php?id=7823 BP.
(2010, Sept. 8). Deepwater Horizon accident investigation report. Retrieved from
www.bp.com/live assets/bp_internet/globalbp/globalbp_uk_english/
incident_response/STAGING/local_assets/down
loads_pdfs/Deepwater_Horizon_Accident_Investi gation_Report.pdf British Standards
Institution (BSI). (2007). Occupational health and safety management systems:
Requirements (OHSAS 18001:2007). London: Author. Cantrell, S. & Clemens, P. (2009,
Nov.). Finding all the hazards: How do we know we are done? Professional Safety, 54(11),
32-35. Christensen, W.C. & Manuele, F.A. (2000). Safety through design. Itasca, IL: National
Safety Council. Clemens, P.L. (2000, April). Many hazard analyses conceal whole-system
risk. Professional Safety, 45(4), 31-33. Clemens, P. (2005, May). Zero-injury workdays: An
effective metric? Professional Safety, 50(5), 40-41. Columbia Accident Investigation Board
(CAIB). (2003). Columbia accident investigation board report (Vol. 1). Washington, DC:
NASA. Retrieved from www .nasa.gov/columbia/home/CAIB_Vol1.html DeRosier, J.,
Stalhandske, E., Bagian, J.P., et al. (2002, May). Using healthcare failure mode and effects
analysis: The VA national center for patient safety’s prospective risk analysis system. The
Joint Commission on Accreditation of Healthcare Organizations, 28(5), 248-267. EPA.
(2004). Risk management plan (RMP) rule. Washington, DC: Author. Retrieved from
www.epa .gov/oem/content/rmp Health and Safety Executive. Frequently asked questions.
London: Author. Retrieved from www.hse.gov .uk/risk/faq.htm#q7 Heidel, D. (2011, Sept.
22). Prevention through design standard [Web log]. Washington, DC: U.S. Department of
Health and Human Services, CDC, NIOSH. Retrieved from http://blogs.cdc.gov/niosh-
science-blog/2011/09/ ptd-2 Lyon, B.K. (2001, Oct.). Behavior sampling of theme park ride
operators. Professional Safety, 46(10), 35-42. Manuele, F.A. (2008). Advanced safety
management: Focusing on Z10 and serious injury prevention. Hoboken, NJ: John Wiley &
11. Sons. Manuele, F.A. (2008, Oct.). Prevention through design: Addressing occupational risks
in the design and redesign processes. Professional Safety, 53(10), 28-40. Manuele, F.A.
(2010, May). Acceptable risk: Time for SH&E professionals to adopt the concept.
Professional Safety, 55(5), 30-38. OSHA. (1992). Process safety management of highly
hazardous chemicals. Washington, DC: U.S. Department of Labor, Author. Retrieved from
www.osha.gov/pls/ oshaweb/owadisp.show_document?p_table= -STANDARDS&p_id=9760
OSHA. (2003). Voluntary protection programs: Policies and procedures manual.
Washington, DC: U.S. Department of Labor, Author. Retrieved from www.osha.gov/
OshDoc/Directive_pdf/CSP_03-01-003.pdf SAFE 4035 Risk Assessment Article Assignment
1. What is the name and standard citation for the OSHA regulation that requires risk
assessment? ( 3 points) 2. What is the name and standard for the EPA regulation that
requires risk assessment? (3 points) 3. Explain the three components of risk assessment
according to the ANSI/ASSE Z690.1-2011. (6 points) 4. According to the article what was
written about Fortune 500 companies and the risk assessment process? (3 points) 5.
Identify three reasons companies fail to perform formal assessments. (3 points) 6.
According to ANSI Z690.3 what is an achievable and acceptable risk? (3 points) 7. How
many members should be involved in a risk assessment and how should they be selected?
(3 points) 8. What might a transportation risk assessment include? (3 points) 9. Identify the
risk assessment tools that provide quantitative output. Of the identified risk assessment
tools in figure 3, how many and what percent provide quantitative output? (3 points) 10.
Identify the six items that a properly selected risk assessment should be? (3 points) 11.
Identify the frequency fields from figure 4? (3 points) 12. Identify the severity fields from
figure 4? (3 points) 13. Why should we consider a whole-system risk approach when
conducting risk assessments? (3 points) 14. Identify three major risks in the meat packing
industry. (3 points) 15. Identify the seven hierarchy of controls provided by ANSI/ASSE
Z590.3-2011. (3 points) 16. Identify the seven stages of design concept through
decommissioning? (3 points) 17. Why is communication so important before, during and
after a risk assessment? (3 points)