Organizational
specific downtime risk assessment
Definition
It is defined as a structured means of identifying,assessing and
ratingthe risk faced by an organization within the context of its
financial reporting processess,operations and compliance with laws
and regulations.
Different
evaluation tools and its cons and pros
- QUALITATIVE RISK ASSESSMENT
- QUANTITATIVE RISK ASSESSMENT
- GENERIC RISK ASSESSMENT
- SITE SPECIFIC RISK ASSESSMENT
- DYNAMIC RISK ASSESSMENT
QUALITATIVE RISK
ASSESSMENT
- It is the most common form of risk assessment in the whole
types of assessmets which is based on personal judgment
and expertise of the assessor.
- They will often use their own experience,but will also consult
with others carrying out the activity and best practice guidance to
reach their decisions.
- Any health and safety assessment will start with a simple
qualitative assessment.
- In this type the assessor will categorise risk into
levels,usually high,medium or low.
QUANTITATIVE RISK
ASSESSMENT
- It is a assessment used to assess the risk by assigning a
numerical value,this type of risk assessment will more likely be
uesd with major hazards like aircraft design,complex chemical or
nuclear plants.
- It measured on the presence of hazards from the chemical
mechianery.Eg:Modelling techniques and estimates.
GENERIC RISK ASSESSMENT
- These are not adapted by a site or a project yet.
- It covers common hazards for a task or activity
- It mailnly focussing on the key hazards and it's control
measures.
- The main aim is to cut down on duplication of effort and paper
work.And also will consider the hazards for an activity may be
carried out across different areas of the workplaces.
- It is also used for similar activities or equipment across
different sites,departement or companies.
- The risk from the activity may be common across different
sites,changes in the environment can affect risk levels,and even
induce new hazards.Its probabily best to use generic risk
assessment as a starting point for a site-specific risk
assessment.
SITE SPECIFIC RISK
ASSESSMENT
- It is focussing a specific item of work,that takes acount of
the site-location,environment and people doing the work.
- It might be qualitative or quantitative which starts off with a
generic risk assessment templates.
- But this assessment should be finished with a site specific
assessment that is suitable ans sufficient for the hazards
present.
DYNAMIC RISK ASSESSMENT
- The risk in an on spot situation can be assessed by this
method.
- It is used to cope with unknown risk and handling
uncertainity.
- It might be used by an emergency services, or care workersEg:
who need to deal with developing and changing situation beacuse
these types of environments needs to be assessed.
- It is always possible to prepare for every risk or
hazards.
Benefits of doing
risk assessments
- It is helping to identify the control hazards in the work
place.
- It helps to create awareness among the employees and it is used
as a training tool.
- Set risk management hazards,based on acceptable safe practices
and legal requirements.
- It focus on the reduction of incidents in the workplace which
can lead to the risk for hazards.
- Save cost by being proactive instead of reactive.