Risk Management Course

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The class deals with a Risk Management program and the steps for implementation.

Risk Management is a way of reducing or eliminating accidents and incidents in the workplace. Accidents or incidents can have three possible outcomes. They can cause harm or injury, business disruption, or damage to equipment or the environment. Risk Management is s systematic way of eliminating or mitigating accidents and incidents by: 1. Determining all possible outcomes, 2. Measuring the impact to the company for each accident or incident, and 3. Developing control measures to eliminate or mitigate the risk.

To measure risk, use probability and severity. Probability is the likelihood of an accident occurring. Severity is the potential damage to the company. Probability and Severity can each be divided into six possible categories to measure the relative risk to the company.

Control measures are then developed to eliminate or mitigate the risk. Control measures must meet three criteria. They must be positive, identifiable, and measurable.

The class runs through three examples of accidents to demonstrate the Risk Management program and its implementation. It scores each accident and develops control measures to reduce the impact to the company by reducing the likelihood of the accident occurring.

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