Fundamentals of SH&E: Risk Management

Describe What is Meant by Risk

Differentiate Risk Management from Safety Management

Describe the Risk Management Process

Identify Resources

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

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

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

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