Lec 6 Safety Risk Management

Question 1

What is Risk? !

Answer 1

• The chance that something will have an impact.

- Dealing with what may or may not happen, which may or may not have a positive or negative consequence.

Question 2

What is risk management? !

Answer 2

The coordinated actives to direct and control an organisation with regard to risk.

CASA definition:
The identification, analysis and elimination (and/or mitigation to an acceptable or tolerable level) of the Hazards, as well as the subsequent risks, that threaten the viability of an organisation.

Question 3

What are the three levels of risk management?

Answer 3

• Strategic Level
• Operation Level
• Tactical Level

Question 4

What is the strategic Level of risk management ?

Answer 4

Identifying, quantifying and mitigating risks. That happen or are inherit to a company from their strategic point of view.

Question 5

What are some examples of risks that may occur during the strategic level of risk management?

Answer 5

A customer demand change, legal change or

regulatory change.

Question 6

Will a strategic level of risk have a long term or short term effect?

Answer 6

Long term