The aim of risk management is to avoid risks, minimize their impact, and cope with the consequences if they occur.
Items with high likelihood and high consequence should be prioritized first as they represent the highest risk.
Understanding both factors allows for a comprehensive assessment of risks, enabling better prioritization and management.
1. What can go wrong? 2. What can we do to prevent it? 3. What will we do if it happens?
Systematic evaluation helps to clearly understand the risks involved, allowing for effective risk reduction strategies.
We can minimize the impact by implementing protective measures, such as wearing safety goggles to protect against corrosive liquids.
Strategies include preventive actions, safety training, and corrective actions after an incident occurs.
A risk table is used to prioritize risks based on their likelihood and consequences, helping to determine which risks to address first.
Risk analysis involves evaluating the likelihood of an event occurring and the consequences if it does occur.
