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RISK MANAGEMENT RISK MANAGEMENT BASIC DEFINITIONS:- BASIC DEFINITIONS:- ___________________. ___________________. HAZARD. HAZARD. A condition or practice with A condition or practice with the potential of accidental the potential of accidental loss. loss. RISK. Chance of loss. RISK. Chance of loss. SAFETY- control of accidental loss. SAFETY- control of accidental loss. LOSS CONTROL MANAGEMENT. The LOSS CONTROL MANAGEMENT. The application of professional application of professional management skills to the control of management skills to the control of loss. loss.

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  • RISK MANAGEMENT BASIC DEFINITIONS:-___________________.HAZARD. A condition or practice with the potential of accidental loss.RISK. Chance of loss.SAFETY- control of accidental loss.LOSS CONTROL MANAGEMENT. The application of professional management skills to the control of loss.

  • Hazards.The hazard presented by a substance is its potential to cause harm.Risk.The Risk from a substance is the likelihood that it will cause harm in the actual circumstance of use.

  • RISK MANAGEMENT TECHNIQUES INVOLVES.---------------------------------.IDENTIFICATION.ASSESSMENT.CONTROL.

  • RISK IDENTIFICATION.WORK PLACE INSPECTION.MANAGEMENT & WORKERS DISCUSSION.INDEPENDENT AUDITS.JOB SAFETY ANALYSIS.HAZARDS & OPRABILITY.ACCIDENTS STATISTICS

  • RISK ASSESSMENT.Risk Magnitude = Frequency X ConsequenceLow Fre. X Low Con. risk should retained.Low Fre. X High Con. Risk to be transferredHigh Fre. X Low Con. Risk to be reduced.High Fre. X High Con. Risk to be avoided.Risk Rating = FRe. X { MPL + Probability ]

  • MPL is Rated on 50 Point Scale.Multi fatality 50Single Fatality 45Total Disablement. 40Loss Of Eye 35Arm/ Leg Amputation 25Loss Of Hearing 20Broken/ Fracture Limb 15Deep Laceration 10Bruising 05Scratch 01

  • Probability{ P }is rated on 50 point scaleImminent 50Hourly 35Daily 25Once 15Once per month 10Once per year 05Once per five/more years 1

  • CORRECTIVE ACTIONSRisk Rating urgency of action.Over 100 immediately.80- 100 today60- 79 within two days40- 59 within four days20- 39 within one week10- 19 within one month0- 9 within 3 month.

  • Risk ControlRetentionTransferReductionAvoidance

  • Measures Can Be Measured Thus Long Term. 1- Eliminate/ Avoid Risk At Source. 2- Reduce Risk At Source. 3- Contain Risk By Enclosure. 4- Remove Employee From Risk. 5- Reduce Exposure To Risk. 6- Utilize Protective Equipment.Short Term.

  • J S ASelectRecordExamineDevelopInstallMaintain

  • How To select Job To be AnalyzedPast Accidents/ IncidentsMaximum potential LossLegal RequirementsProbability Of ReoccurrenceThe newness of the jobNumber of people at Risk.


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