Welcome to the SafetyCloud Blog

 

Topics: Risk management, risk methodologies, risk, risk assessment

 

Topics: risk methodologies, risk, risk assessment

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:

Topics: risk methodologies, risk, risk assessment

 

In line with the ISO 31000 standards, a risk assessment methodology is part of the risk management process and uses a combination of:

• identification
• analysis, and
• evaluation techniques.

Topics: Risk management, risk methodologies, risk assessment

Under modern occupational risk management (ORM), the primary differences between risk assessment and risk measurement are:

• the types of data used, and
• the way parameters are derived.

 

Where sufficient hard data is available, risk measurement is often more reliable than risk assessment. However, developing a theoretically valid method of combining hard data and soft data is a very difficult process (OpRisk Advisory and Towers Perrin, 2010).

 

Topics: risk methodologies, risk by industry, risk assessment

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.

Topics: Risk management, risk methodologies, risk

 

Topics: Risk management, risk methodologies, risk

Our Market Researcher, Jiaqi Sun, has put together research to provide an overview of commonly-used risk assessment approaches and processes to manage hazard, operational and strategic risks. Over the next series of blogs, we will drill down into:

Topics: Risk management, risk methodologies, risk

Almost there, and this is the last active step you’ll take when it comes to rolling out your health and safety training. Today we’re talking evaluation. And why is it so important?

Topics: work safety, HSE, training, Safety training, HSE training

 

Topics: work safety, training, Safety training, HSE training, training programme