Risk In Complex Operations
Risk Management Tools
Simplifying risk management
Providing risk management tools for better and simpler risk management.
Risk Education
Teaching through examples
We post examples of projects with
different risk scenarios and analyse what went wrong.
Read the latest RICO post
Risk Data Quality Assesment
Every risk analysis is performed using certain data and information. These critical inputs must adhere to a high standard of credibility, precision, and impartiality. After all, if the risk analysis iso be trusted, its foundation—the data—must be equally reliable. By employing risk data quality assessment, project managers can evaluate the credibility, quality, accuracy, and ease …
Event Tree Analysis
ETA, also known as event tree analysis, is a systematic method used when trying to analyze accidents. This is done by breaking them down into a series of events. When doing ETA, you must start with an event called a “initiating event”. These will often refer to equipment failure, human error etc. From this initiating …
risk management
It does not have to be time consuming, complicated and expensive. But unfortunately it is most of the time… Especially in complex projects!
That is why we use risk management tools!
In risk management there is a number of tools, or methods, one can use to identify, rate and mitigate risk. These methods are a combination of simple and inexpensive ones, such as a brainstorming exercise. To the more complicated, expensive and time consuming ones, such as organisational risk governance and organisational risk communication.
The latest about risk management tools
The Risk Management Checklist: One of Many Tools
Introduction: Every day, whether as an individual or a large organization, people are forced to deal with risks. Risks come in many different forms, but the solution to managing those risks may vary depending on the situation. Fortunately, there are tools that risk managers at all levels can use to help them simplify their processes, …
Continue reading "The Risk Management Checklist: One of Many Tools"
The FIRM Scorecard
Within the field of Risk Management, there are various ways of identifying risks. Depending on the way in which you wish to realize these risks, there are certain risk classification systems to choose from. One of these is the FIRM scorecard, which at some points serves the same purpose as the Business Impact Model. Both …
Risk Strategy. Safety Risk Management
This article describes how safety risk management is a key component of any safety management system and involves identifying safety hazards to your operations and assessing the risks of mitigation. To successfully identify hazards you should think laterally and be unencumbered by past ideas and experience Introduction The term “safe” Those involved in disaster management …
Educational Examples
With educational examples, our goal is to present the reader with situations or projects where a risk became an incident. By analysing what went wrong and what should have been done, we can hopefully provide valuable knowledge to the reader.
What went wrong
In these educational examples we present a case where a specific project or part of the projects have gone wrong. We try to examine where the “point-of-no-return” is (i.e., where the risk became an incident).
What should have been done
Then, when we know where the project went wrong, we will go back in time before the “point-of-no-return” and see what could have been done differently to avoid the risk becoming an incident.
What can we learn
By doing so, we can provide valuable knowledge and “experience” to, hopefully, get your critical thinking going, so you can avoid the same incidents in your projects!
The latest about our risk education content
HAZOP – Hazard and Operability Study
IntroductionAs we face hazards with the potential to harm and damage ourselves, our organisation and our environment, it is crucial to be able to manage these hazards. Hazard identification is one way to manage the hazards we are facing. Being able to identify the hazards in our daily life, will help us to manage them …
HAZID – Hazard Identification
IntroductionHazards are to be found everywhere. They have the potential to affect our organisations in many negative ways, and therefore we should ensure that we can manage them in the best way possible. To be able to do so, it is crucial to be able to identify which hazards our organisation is facing. Many approaches …
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