Risk Assessment Techniques Topic 6 SMQR 5103 Risk

Risk Assessment Techniques Topic 6 SMQR 5103

Risk Assessment Techniques – ISO 31010 31 Techniques FMEA HAZOP Root-cause analysis Cause and effect analysis HIRADC Env. Aspect & Impact Tree analysis Bow Tie analysis Cost benefit analysis

Example 1: Environmental Aspect & Impact assessment steps • Activity • Env. Aspect • Env. Impacts • Env. Aspect & Impacts register 1. Aspect & impact identification 2. Significance 3. Control Identify Determine control Determine Address significant • Activity • Env. Aspect • Env. Impacts • Definition of rating • Significance rating 1. Frequency 2. Severity 3. Regulatory 4. Controllability 5. Accumulated ratings • Risk action table (risk rating, description & action)

Example 2: Hazard Identification, Risk Assessment & Determining Control (HIRADC) steps

Example 2: Hazard Identification, Risk Assessment & Determining Control (HIRADC) steps • Qualitative • Quantitative • Likelihood Table • Consequence Table • Risk Rating Matrix • Activity • Hazard • Risk • Maintain & review Risk Identification Risk Analysis Develop HIRADC Register Risk Evaluation • Identify significance of the risk • Identify action to be taken (hierarchy control)

Critical Success Factor CSF Commitment & support from top management Competency & training Documentation efficient & clear Monitoring & reporting