In the past blogs, we covered how to set the scope, identify major risks and analyze them using the bowtie methodology. In this edition, our focus is on evaluating the risk which was analyzed previously. It is possible to evaluate risks in different ways, divided into two categories, the qualitative and the quantitative way. Using [...]
The 9-step Critical Control Management (CCM) process was shown in the last article with a discussion about the need to establish quality Control-Based Risk Management (CBRM) for priority unwanted events (step 3) before moving to CCM. This article will continue with the CCM process, presenting a variety of approaches to selecting potential critical controls (step [...]
The London North Eastern Railway, formerly known as Virgin Trains East Coast, developed a bowtie to be used as both a risk assessment and a project plan. In case of a strike, the company has two weeks to organize contingency operations. Using the bowtie ensures the operations are just as safe as during normal operations. [...]
In our last blog, we briefly mentioned ISO 31000 guidelines on risk analysis and then introduced the bowtie methodology. In this week’s blog, we will explore this in more detail using the bowtie methodology. According to the ISO 31000 guideline, you should consider multiple factors during the risk analysis phase. As the International Organization of [...]
In our previous blogs, we talked about risk identification. Walking through this process, you end up with a large list of potential incidents scenarios, in other words: a risk register. A question we often get is: “Do we need to make a bowtie for every risk identified?” Well, the answer is no. ISO 31000 recommends [...]
In the past few years, CGE and its partners have organized workshops in Brazil to demonstrate how the bowtie methodology can help organizations improve their risk management. Currently, more and more people in this region are interested in applying the bowtie method, to manage their organizational risks. To further support current bowtie activity in Brazil, [...]
Last week, the first edition of the Barrier Based Risk Management Summit in India took place. Local Indian partner Sudaksha took the initiative to organize this event which turned out to be a success. The event was set up as a 2-day conference. On day 1, various speakers from different industries shared their knowledge about [...]
In our last blog, we discussed how the risk identification phase looks like according to ISO 31000. One thing we noted is “The bowtie is not a specialized hazard identification method” which is true, but we do offer a risk or hazard identification tool in our BowTieServer tool. How to identify risk in BowTieServer The [...]
Welcome to the 7th article in the series covering Operational Risk Management (ORM) in the mining industry. Earlier articles attempted to set a foundation of terms and concepts to help understand the ORM journey, as well as to help a site identify its current position on the journey. Figure 1: The operational risk management journey [...]
According to ISO 31010 “Risk identification is the process of finding, recognizing and recording risks.” Risk (or hazard) identification is a structured process to identify and assess the risks we are dealing with on a day-to-day operation. We assess the risks they pose to people, the environment, assets or reputation. Once these risks have been [...]
