Risk management

27問 • 2年前

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evaluation or estimation of the nature, quality, or ability of someone or something • t h e a c t o f j u d g i n g o r deciding the amount, value, quality, or importance of something, or the judgment bor decision that is made

assessment

• a process used to identify potential hazards and analyze what could happen if a disaster or hazard occurs

risk assessment

Risk Management Principles: An Introduction

integrated structured and comprehensive customized inclusive Dynamic Use best available information Consider human and Cultural factors Practice continual improvement

has a main purpose of finding, recognizing, and describing the risk that might help or prevent an organization to achieve its objective. Relevant, appropriate and up to date information is important in identifying risks

risk identification

Types of risk

Compliance risk hazard risk Occupational risk Control risk

can be undertaken with varying degrees of detail and complexity , depending on the purpose of the analysis, availability and reliability of information and the resources available. this technique can be qualitative, quantitative or combination.

Risk Analysis

Risk analysis should consider factors such as:

A key process in project management Help deciding whether to proceed in a project or not Ensures only projects with the highest chance of success are selected Used in project planning and during project implementation

What are threats assessment

Natural Threats Criminal Threats Terrorist Threats

what are the Vulnerability assessment

Devastating Severe Noticeable Minor

-attempts to define what the estimated risk actually means to people concerned with or affected by the risk -process that is used to compare risk analysis result with risk criteria in order to determine whether or not a specified level of risk is acceptable or tolerable -determine the severity of potential risks

Risk Evaluation

-management tool which accurately assess business exposure based on the frequency and severity of identified potential risks

Risk Evaluation Matrix

where both the frequency and severity of risk is low, risk is often ___. This is a form of self-insurance, whereby the business operator assumes and accepts a certain level of losses. Retention is either passive (risks are retained by7 business operator without the knowledge that they are occurring), or active (where risk is identified and a decision is made to retain and pay for any losses from the business operator’s own resources).

Risk Retention

where the frequency of risk potentials is low, but the severity of a potential incident is high, the most common and traditional approach to risk management is transferring responsibility to other parties.

risk transfer

where the severity of a potential risk remains low, but the overall frequency of risk is increasing business operators need to consider ways of reducing their exposure.

Risk reduction

where frequency and severity of risk potential are both high, business operators should consider cancelling a program or activity.

Risk Avoidance

These types of risks come from dangerous situations in the workplace. Such as: physical hazards caused by high noise levels, extreme weather or other environmental factors. equipment hazards caused by faulty equipment or poor processes when using equipment such as machinery.

Hazard risk

an essential concept in decision-making t h a t i n v o l v e s t h e p o t e n ti a l l o s s o r unfavorable outcome associated with s e l e c ting o n e optio n o v e r an o t h e r. Examples; include moving a business to a different location, buying a new property, or selling a new product or service.

opportunity risk

organization’s legal, financial and criminal exposure if it does not follow industry laws and regulations.

compliance risk

chance of a risk materializing due to a failure in the set of controls placed by the business . For example, material misstatements could appear while preparing company’s financial statement due to a lack of relevant internal controls to mitigate a particular risk.

control risk

The facility is damaged/contaminated beyond habitable use. Most items/assets are lost, destroyed, or damaged beyond repair/restoration. The number of visitors to other facilities in the organization may be reduced by up to 75% for a limited period of time.

devastating

T h e f a c i l i t y i s p a r t i a l l y damaged/contaminated. Examples include partial structure breach resulting in weather/water, smoke, impact, or fire damage to some areas. Some items/assets in the facility are damaged beyond repair, but the facility remains mostly intact. The number of visitors to this and other facilities in the organization may be reduced by up to 50% for a limited period of time

severe

The facility is temporarily closed or unable to operate, but can continue without an interruption of more than one day. A limited number of assets may be damaged, but the majority of the facility is not affected. The number of visitors to this and other facilities in the organization may be reduced by up to 25% for a limited period of time.

noticeable

The facility experiences no s i g n i f i c a n t i m p a c t o n operations (downtime is less than four hours) and there is no loss of major assets.

minor

the legal basis of occupational Safety and health laws in the Philippines is the

Presidential decree 442 otherwise knows as Labor Code of the Philippines

occupational and safety and health in the Philippines Constitution of 1987 which states that under the article XIII section 3

(I) the state shall afford protection of labor (II) It shall guarantee the rights of all workers to self organization (III) the state shall promote the principle of shared responsibility between workers and employers (IV) The state shall regulate the relations between workers and employers

defined to be a combination of the attractiveness of a facility as a target and the level of deterrence and/or defense provided by the existing countermeasures.

vulnerability

is a measure of the asset or facility in the eyes of an aggressor and is influenced by the function and/or symbolic importance of the facility

target attractiveness

Reed finals

Leah Jean Better · 28問 · 2年前

Reed finals