1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nikklg [1K]
3 years ago
13

Discuss the various risk assessment methodologies that may be in use today. Is there one that stands out to you being more produ

ctive than others? If so, please discuss why.
Social Studies
1 answer:
musickatia [10]3 years ago
4 0

Answer:

Explanation:

Risk valuation: It is called analytical calculation and simulation process by showing the probability of realization of the identified hazards and the determination of the loss to occur in case of occurrence through various tools.

Risk appraisal: primarily worker; people, equipment, materials should be done in order to protect and to prevent loss of time as a result of any event that may occur.

To put hazards in order, it is necessary to value each risk in terms of probability, severity, and conditions of occurrence relative to other risks. What needs to be done while valuing the risks is to put the risks in priority. The Nuclear, Aerospace, Petroleum, Railway and Military industries have a long history of risk valuation. Risk valuation methods used among industries may differ. Issues such as financial, environmental, ecological and public health can be effective in making this decision. After all assumptions and uncertainties are clearly revealed and accepted, risk assessment is made with an objective assessment. The problem with risk valuation, which is part of the risk management cycle, is the difficulty in measuring the magnitude of the potential loss and the probability of the loss. In theory, both are equally important, but risk management can be very difficult to manage, especially when it comes to time and resource scarcity.

Risk analysis: These are all the methods and principles regarding the identification of potential hazards that may occur during the activities of an enterprise, evaluating the risks related to them and thus taking control measures related to the expected and possible risks.

We can analyze the risk under the following five headings:

- Identify threats.

-Decide which of the identified hazards can cause harm.

- Evaluate the risks and determine the measures to be taken.

-Save your important findings.

-Report your risk analysis and update if necessary.

Qualitative and quantitative methods are available for risk analysis.

1) Qualitative Risk Analysis Methods:

-Primary Risk Analysis Method and Risk Matrices (Preliminary Risk Analysis and Risk Matrices)

-Hazard and Operability Studies (HAZOP: Hazard and Operability Studies)

-Error Mode and Effects Analysis (FMEA: Failure Mode and Effect Analysis)

2) Quantitative Risk Analysis Methods:

a) Tree Based Techniques (Static Analysis):

-Fault Tree Analysis

-Event Tree Analysis

-Cause-Consequence Analysis

-Management Supervision Risk Analysis (MORT: The Management Oversight and Risk Tree)

b) Techniques for Dynamic Systems:

-Diagraph / Fault Graph

-Markov Models (Markov Modeling)

-Monte-Carlo Simulation

-Dynamic Event Logic Analythical Methodology

-Dynamic Event Tree Analysis Method

You might be interested in
Would you say the U.S. government is heavily or lightly involved in the economy? why?
Andrew [12]
In my opinion, i would say the U.S. government is heavily involved in the economy. The government makes our money, keeps us from making money. They provide us with banks and other needs. They're involved with the stock market and currency exchange. I mean the list goes on and on. hope this helped, have an amazing day :)
3 0
3 years ago
What factors encourage people to find new settlements in the middle colonies?
BigorU [14]

The reasons why more people traveled and settled into the middle colonies was because it was a good place for planting crops.  This was due to the fertile soil as well a source for lumber used in ship building and other activities.  It was also culturally diverse as people of different European backgrounds and religions settled there and were respected for their religious beliefs.

7 0
3 years ago
"Not all dying words are true and this blessing is no less real for being shorn of its ground" (31). To which dying words to you
Sonja [21]

Answer:

his true lover is who he is reffering to i think

Explanation:

7 0
3 years ago
Phyllis's brother is encouraging his son to enjoy a variety of different ethnic foods. He tempts his son by pretending to spoon-
Montano1993 [528]

Answer:

social referencing

Explanation:

Social referencing is one of the most effective ways infants learn about their world. It involves infants learning from the affective displays of the people in their environment and using these clues to gain insights about environmental objects, people and situations. This is exemplified above where the child believes the food is nice after having seen the positive expression from the uncle

7 0
2 years ago
Read 2 more answers
Why was satins juice "strawberry milk" invented?
Dennis_Churaev [7]
Because Strawberry milk is extremely well-liked in Europe, most specifically Germany, where it is the most ordinary alternative to chocolate milk.
Taste it to see if there is enough strawberry flavor
5 0
3 years ago
Other questions:
  • Anita conducts a survey to determine if Americans are willing to support the arts by giving money directly to local theater grou
    10·1 answer
  • If you were the governor of Georgia and you wanted to see your state increase its access to international markets, which of thes
    13·2 answers
  • How credit/FICO scores impact how much you will pay for a loan?​
    15·1 answer
  • Jamaal has to make an important phone call. Unfortunately, his cell phone is not charged and he has to use his landline, which d
    10·2 answers
  • What were some challenges immigrants faced? select all that apply.
    12·2 answers
  • According to the text, how do the Roaring Twenties develop over time? Cite evidence from the text to support your answer.
    14·1 answer
  • How does a society build on what it values while ensuring that it stays true to the original beliefs
    15·1 answer
  • Which is an example of a reserved power?
    14·2 answers
  • Which statement best describes the landscape of the Arabian Peninsula?
    11·2 answers
  • Insurance that helps a person pay bills if he or she is injured and unable to
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!