• Describe What is Meant by Risk

  • Differentiate Risk Management from Safety Management

  • Describe the Risk Management Process

  • Identify Resources

Definitions - Safety

  • The control of recognized hazards to achieve an acceptable level of risk.1

  • The condition of being safe; freedom from danger, risk, or injury.2

    1. Wikipedia and Safety Professionals Handbook

    2. The Free Dictionary

Definitions - Hazard

  • A situation that poses a level of threat to life, health, property, or environment.1

  • An unsafe condition that, if left uncontrolled, may contribute to an accident.2

  • Any biological, chemical, mechanical, or physical agent that is reasonably likely to cause harm or damage to humans, other organisms, or the environment in the absence of its control.3

  • Source of potential harm.4

    1. Wikipedia

    2. Safety Professionals Handbook

    3. Wikipedia (risk)

    4. ANSI/ASSE Z690.1-2011

Definitions – Risk

  • The potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome).1

  • The chance of physical or personal loss. Hazard. Danger. Peril. A subjective evaluation of relative failure potential.2

  • Effect of uncertainty on objectives.3

    1. Wikipedia

    2. Safety Professionals Handbook

    3. ANSI/ASSE Z690.1-2011

Definitions – Risk Management

  • Coordinated activities to direct and control an organization with regard to risk.1

  • A decision process using core management tools in logical sequence to manage risk.2

    1. ANSI/ASSE Z690.1-2011

    2. Essentials of Risk Management, George Head, Insurance Institute of America

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