In southern Africa we have over 170 species of snakes, 12 of which can be classified as deadly. However, although they won’t kill you, there some species will inflict serious or painful bites (e.g. the Many Horned Adder). While they are not considered highly venomous, and deaths from their bites are unheard of, you should still be aware of them and the consequences of their bites. Today we will discuss the more common specimens from this group.
For both quantitative and qualitative approaches, a wide range of techniques exist as illustrated in the chart below (please refer the American Bureau of Shipping (2000) for more details). Each technique has its own:
In line with the ISO 31000 standards, a risk assessment methodology is part of the risk management process and uses a combination of:
- analysis, and
- evaluation techniques.
Under modern occupational risk management (ORM), the primary differences between risk assessment and risk measurement are:
With the increasing availability of big data and sophisticated software analytics, such as machine learning, modern risk assessment are automated and easy to use for people who have limited technical knowledge on risk management. The outcome of risk assessment will become more accurate due to the access to large-size samples. For example, Deloitte has developed a continuous risk assessment tool as an enhancement of its traditional risk assessment processes through the inclusion of quantitative metrics i.e. key risk indicators, to better assess the risk universe. ORM has moved away from traditional risk assessment towards risk-based strategic decision making.