What is Risk?
ฝัง
- เผยแพร่เมื่อ 6 ส.ค. 2018
- This video explains the relation between risk, causes and effects.
A hard to grasp risk management concept in general and especially useful during risk assessment sessions to explain the risk sequence to participants.
For more information about our risk management tool, please visit our website: riskid.nl/en/ - วิทยาศาสตร์และเทคโนโลยี
Thank you so much .its a wonderful topic which was well understood,explained in detail. Please do more of the same ☺☺
Thanks for the compliments! We are going to pick up videos again this year, so be on the lookout! In the meantime, we have a video on Black Swans and Risk Appetite as well on the channel, enjoy!
Messengers
Risk definition in ISO 31000 is different in the world of safety. In safety, risk is defined as the "likelihood" that harm (ie accident) will occur. ISO 31000 deals mainly in managing risks in an organizations ability to achieve its objectives. Meaning, something that could hinder, prevent, or even help an organization achieve its strategic objectives such as, on-time delivery, customer claims, output capacity, etc., When you talk about risk related to safety, you refer to ISO 45001.
Insightful, thanks Alvin! We have customers that use our risk software for HIRAs and HAZIDs as well, so indeed in the world of safety risk management is specific and important all the same!
Thanks
You videos are very amazing
Thanks for the compliment!
From srilanka 🇱🇰
Hello back from the Netherlands! :)
What is and what could be as a figure of adversity, but also as that of otherness.
I'm curious. Why is failure to achieve the objective the impact and not the risk? Why is not arriving at work the impact of a risk (accident) rather than the accident being the cause, the risk being late arrival, and the impact being getting fired etc?
Hi there! Thanks for your question. The risk event tree is indeed a tricky problem, because it can be a long chain of event. And identifying the risk, cause and effect from it can be difficult. It’s not an exact science, therefore this video is just our view on it.
Let’s try to answer your question. We relate the (inverse) objective as the effect of a risk, because we want to know what undesirable events can cause us to not achieve the objective. The objective is defined beforehand, and many events can hinder us from achieving it. It is those events we want to call risks.
Therefore depending on your objective the risk chain can be identified differently. In your example, the objective is not getting fired. In ours it is not being late for work. This is important, since it will cause the risk chain to be shifted. Because in your example, the question is: what undesirable events can cause me to be fired? One answer is: constantly being late for work. We can identify this as the risk to getting fired. The risk chain would look like: car accident -> being late for work -> getting fired (cause -> risk -> effect).
So you are absolutely right in your analysis, given your defined objective. Hope this makes sense!
🎯 Key Takeaways for quick navigation:
Risks have an effect on objectives, so defining objectives is crucial for identifying risks effectively.
Risks are events that directly affect objectives, not the objectives themselves.
Causes of risks are events that lead to the undesirable outcome (effect) on the objective.
Risks should have a direct negative effect on the objective to be identified as such.
It's common for objectives to be mistaken as risks; in such cases, extract the causes of these objectives as the actual risks.
Analyze and drill down to properly describe risks, causes, and effects.
Regular participation in risk assessments improves the ability to identify risks, causes, and effects.
Made with HARPA AI
What is a risk?
No.
Accident is risk
Isn't risk something that can be managed? There's nothing that can be done about the accident because we never choose to be in car accidents(unless we do), nothing can be done about the decrease in visibility(unless we factor in thing such as wiper quality, or something that can block the rain), nothing can be done about the weather(unless we can control the climate). Wouldn't the only risky be if I wait for the weather to change, go during the storm or stay at home and not go to work?
Hi Mthokozisi, thanks for your comment. Risks certainly can be managed; there are multiple mitigation strategies you can choose from that are stated in literature.
It is true that no-one will ever choose to be in a car accident. But it is not true that you can do nothing about it. I certainly hope that an accident won't occur every time I drive a car. I understand and accept that by driving a car, there is a possibility of a car accident.
Luckily modern cars now have a series of safety measures in place: seat belts, ABS, auto-braking, object detection, etc. Also you have mentioned several measures to prevent (or lower) the car accident risk yourself.
So, undesirable events (such as a car accidents) have a possibility to occur, but we can take multiple measures to lower that possibility.
Hope this helps your understanding of what is a risk.