How do you know what your most important risks are?

Hazard identification and risk registers will provide you with an overview of your most important risks

The challenge

How do you know what your most important risks are?

In order to determine what your most important risks are, you will need to understand what the inherent risks are for your mission critical operations, and what the residual risks are when your management system is functioning as intended.

The solution

Risk register & hazard identification

Hazard identification is a structured process to identify and assess hazards, and the risks that they pose to people, the environment, assets or reputation. Once these risks have been identified and assessed, the risk register will provide you with an overview of the most important risks and detailed information on how they can be managed.

How does it work?

One central list of risks that can hurt your business

Once you have identified and assessed your risks, the risk register provides you with an overview of risks that have the potential to hurt your business, including:

  • all your risks in one place
  • in-depth bowtie analysis on high risks and simple line entries for lower risks
  • standardization of your risk analysis process
  • the ability to learn from what other organizational units have created
  • one common barrier language to communicate risks
  • control over who is allowed to change data
  • elaborate reporting, finding the relevant risks
  • an overview of which sites share risks
  • customizable taxonomies by tailoring the application to what your organization is familiar with
  • the foundation that allows you to expand into advanced barrier management

A set of scenarios with all relevant elements

Besides a short list of most important hazards, the risk register also contains all associated bowtie diagram elements for these risks: threats, barriers or controls, escalation factors and consequences.

Understand the impact

The risk register is linked to your barrier model. The residual and inherent risks that are posed to people, environment, assets and reputation, can be assessed and ranked with likelihood and consequences.

Link to your management system

The barrier model can be linked to your management system. You can do this by adding additional information to your barrier, like for instance: responsible people, system activities, etcetera.

The software features making it possible

The software features used for this solution:

  • BowTieXP: customizable risk matrices and lookup tables
  • BowTieXP: document links
  • BowTieXP: diagram builder
  • BowTieServer: HAZID module and risk register

Learn more

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