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:
- Recognize the difference between hazard, risk, and risk assessment.
- Learn how to evaluate different types of risk.
- Develop the skills of applying risk assessment techniques.
- Develop a strategy for planning and implementing risk reduction action plans.
Course Outline
- Definitions:
- Hazard Identification.
- Risk Assessment.
- Risk Control.
- Risk Assessment as one of the Safety Management Systems’ Elements.
- Work Permit System and Risk Assessment.
- Spot the Hazard.
- Assess the Risks.
- Risk Assessment Table.
- Control Measure Determination.
- Monitor and Review.
- Hazards Checklist.
- Control Measures Guidance.
- Risk Matrix Technique, which Includes Probabilities and Consequences.
- Sensitivity Analysis.
- Decision tree Analysis.
- Technical Uncertainties and their Management.
- Appraisal and Feasibility Studies.
- Development Planning.
- Commercial Uncertainties and their Management.
- Market Factors.
- Human Factors.
- Portfolio Management.
- The Budget Line.
- Indifference Curves.
- Market and Taste Combined.
- The Efficient Frontier with Respect to Risk and Value.
- Impact of Diversification on total Portfolio Risk.
