Course Description:

The assessment and control of risk are essential requirements for a proactive HSE management system. This 5-day course covers the process of analyzing and evaluating hazards which involves both causal and consequence analysis and requires determination of likelihood and risk.

Course Goal:

 To enhance the participant’s knowledge, skills, and abilities necessary to understand risk assessment and management.

Course Objectives:

By the end of this course, the participant will be able to:

1. Recognize the difference between hazard, risk, and risk assessment.
2. Learn how to evaluate different types of risk.
3. Develop the skills of applying risk assessment techniques.
4. Develop a strategy for planning and implementing risk reduction action plans.

Course Outline

1. Definitions:
2. Hazard Identification.
3. Risk Assessment.
4. Risk Control.
5. Risk Assessment as one of the Safety Management Systems’ Elements.
6. Work Permit System and Risk Assessment.
7. Spot the Hazard.
8. Assess the Risks.
9. Risk Assessment Table.
10. Control Measure Determination.
11. Monitor and Review.
12. Hazards Checklist.
13. Control Measures Guidance.
14. Risk Matrix Technique, which Includes Probabilities and Consequences.
15. Sensitivity Analysis.
16. Decision tree Analysis.
17. Technical Uncertainties and their Management.
18. Appraisal and Feasibility Studies.
19. Development Planning.
20. Commercial Uncertainties and their Management.
21. Market Factors.
22. Human Factors.
23. Portfolio Management.
24. The Budget Line.
25. Indifference Curves.
26. Market and Taste Combined.
27. The Efficient Frontier with Respect to Risk and Value.
28. Impact of Diversification on total Portfolio Risk.