Identification of Risks and Techniques Used

When all the information is available to the risk manager, it will be cumbersome for the risk manager to clearly identify that where the risk lies. If the wrong risk has been identified then all the practice of having the risk management process will...
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Organizational Chart; a technique to Identify Risk

Basically there are two types of organizational charts. One is general and the other is auxiliary. General organizational chart describes the structure of the organization where as Auxiliary organizational chart supports the general chart. Basically ...
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Flow Chart; Technique to Identify Dependencies & Risks

Flow chart is a micro level technique. Better detailed activities can be known through the help of flow chart. Organizational chart is unable to give a clear picture of the risks lying in the organization and it also cannot identify the impact of the...
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Checklists and Questionnaires; Technique for Internally Searching and Understanding Risk

Checklists and Questionnaires is also a technique which is widely used to search and understand the risk internally. This technique is also used to understand the impact of the risk, its frequency and its severity. Questionnaires should ideally be in...
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Physical Risk Inspection; Specialized Technique for Identifying Risk

This is one of the most useful methods for identifying risk areas. Physical risk inspection allows the risk manager to have face-to-face conversation with the workers on the floor as well as the risk manager will have a very clear and precise picture...
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Fault Tree; a Pro- Active Technique to Manage Risk

This is another very useful technique for identifying and eliminating risk. Fault tree tries to understand the potential for failure and possible causes of failure. It considers the chain of events that could occur from collecting of raw material to ...
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Business Impact Analysis; a Technique for Recovering from a Loss Incident

Business Impact Analysis is usually used in the context of business continuity planning. The business impact analysis will not only used to locate and identify risk and its impact but it is also used to make a plan and decide what people, other resou...
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Safe Guard; Technique for Identifying & Eliminating Risk

Safe guard technique refers to changing the hardware and procedure. Hardware is anything which you can touch; it is a physical and tangible item. Consider an example that once there was an explosion due to cylinders in a production firm and that firm...
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Hazard & Operability (HAZOP) Study; Technique for Identifying Mechanical Risks

This technique is derived from fault tree technique. This technique is used where there are massive plants and the normal life of that plant is 30 to 40 years. Risk Manager will involve where if questions, as were involved in fault trees. This study ...
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Risk assessment: What steps should be taken to asses the risk

Risk assessment is a step that makes the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat. A Risk Assessment is a systematic method of looking at work activities, considering what coul...
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