Risk Management Flashcards
Define the term “risk management”.
Risk management is a logical process of weighing the potential costs of risks against the possible benefits of allowing those risks to stand uncontrolled.
It is a decision making process designed to identify hazards systematically, assess the degree of risk, and determine the best course of action.
What four basic principles of risk management are useful when trying to determine what constitutes an “acceptable “ level of risk.
Accept No Unnecessary Risk : Unnecessary risk is that which carries no commensurate return in terms of benefits or opportunities.
Make Risk Decisions at the Appropriate Level : the decision-maker must be authorized to accept levels of risk typical of the planned operation.
Accept Risk When Benefits Outweigh the costs : all identified benefits should be compared against all identified costs.
Integrate Risk Management into Planning at All Levels : risks are more easily assessed and managed in the planning stages of an operation.
What is the risk management process?
Risk management is a simple process which identifies operational hazards and takes reasonable measures to reduce risk to personnel, equipment, and the mission.
Explain the six steps involved in risk management process.
- Identify the Hazard : Experience, common sense, and specific analytical tools help identify risks.
- Assess the Risk : Determine the probability and severity of an accident that could result from exposure to the hazards.
- Analyze Risk Control Measures : Investigate specific strategies and tools that reduce, mitigate, or eliminate the risk.
- Make Control Decisions : The decision-maker must choose the best control or combination of controls, based on the analysis.
- Implement Risk Controls : A plan for applying the selected controls must be formulated, and the time, materials, and personnel needed to put these measures in place must be provided.
- Supervise and Review : Once controls are in place, the process must be reevaluated periodically to ensure their effectiveness.
How will you implement the risk management process?
- Apply the Steps in Sequence : Each step is a building block for the next, and must be completed before proceeding to the next.
- Maintain a Balance in the Process : All steps are important; allocate time and resources to perform all of them.
- Apply the Process in a Cycle : The “supervise and review” step should include a brand new look at the operation being analyzed to see whether new hazards can be identified.
- Involve People in the Process : Ensure that risk controls are mission supportive, and the people who must do the work see them as positive actions.
How is the level of risk posed by a given hazard measured?
It is measured in terms of severity (extent of possible loss) and the probability (likelihood that a hazard will cause a loss).
The likelihood of an event occurring can be classified into what four categories?
Improbable – an event is highly unlikely to occur.
Remote – an event is unlikely to occur, but is possible.
Occasional – an event will probably occur sometime.
Probable – an event will occur several times.
What severity f an event occurring can be classified into what four categories?
Negligible – less than minor injury, less than minor system damage.
Marginal – minor injury, minor damage.
Critical – severe injury, major damage.
Catastrophic – results in fatalities, total loss.
Define the term “single-pilot resource management”.
SRM is the art and science of managing all the resources (both on-board the aircraft and from outside sources) available to a single pilot to ensure the successful outcome of the flight.
SRM helps pilots learn to execute methods of gathering information, analyzing it, and making decisions.
What practical application provides a pilot with an effective method to practice SRM?
The “Five P” checklist consists of “the Plan, the Plane, the Pilot, the Passengers, and the Programming.”
It is based on the idea that the pilot has essentially five variables that impact his or her environment and that can cause the pilot to make a single critical decision, or make several less critical decisions that when added together can create a critical outcome.
Explain the “Five P” model.
Plan – weather, route, publications, ATC reroutes/delays, fuel onboard/remaining.
Plane – mechanical status, automation status, database currency, backup systems.
Pilot – illness, medication, stress, alcohol, fatigue, eating.
Passengers – pilots/non-pilots, nervous or quiet, experienced or new, business or pleasure.
Programming – autopilot, GPS, MFD/PFD, anticipate likely reroutes.
How will you assess your student’s SRM skills?
Explain – the student can verbally identify, describe, and understand the risks inherent in the flight scenario. The student needs to be prompted to identify risks and make decisions.
Practice – the student is able to identify, understand, and apply SRM principles to the actual flight situation. Coaching, instruction, and/or assistance from the CFI results in the student quickly correcting minor deviations and errors identified by the CFI. The student is an active decision maker.
Manage/Decide – the student can correctly gather the most important data available both within and outside the flight deck, identify possible courses of action, evaluate the risk inherent in each course of action, and make the appropriate decision. Instructor intervention is not required for the safe completion of the flight.
