Risk Assessment Techniques Topic 6 SMQR 5103

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

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

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

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

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