Risk Mgmt Flashcards
how many workers suffer injury each year in Canada
6.3%; 1 in 16; 1 every 9 seconds
operational risk management
A decision-making tool to systematically identify operational risks and benefits and determine the best course of action for any given situation.
HAZOP
Hazard and Operability Study
process safety management
analytical tool focused on preventing releases of any substance defined as a “highly hazardous chemical”
two main factors to be considered in the risk assessment process
Likelihood of occurrence and the potential impact
ALARP
as low as reasonably practicable
ISO for HS systems
there is none
risk assessment
thorough look at your workplace to identify those things, situations, and processes that may cause harm, particularly to people.
Role of Risk Management
To provide a framework for health and safety decision-making
Incidence Rate
Frequency of reported injuries/illnesses within a specified number of workers
Cumulative Burden
The number of days lost due to accidents and the number of sick days due to work-related illnesses.
The measure of the frequency rate and the duration or intensity of the events.
How many workplace injuries reported in Canada in 2006
1,000,000
What percentage of accident victims are aged 15-29?
30%
In 2011, WCB awarded how much money in H&S benefits?
5.5 billion
Including indirect costs the annual cost of occupational injuries to the Canadian economy is?
$10 billion
Indirect costs of workplace injuries are:
lost company productivity
reduced worker income
residual health problems in returning workers
costs covered by WCB
direct costs
insurance of vehicles
third party insurance
insurance of building structures
What is a hazard
potential to cause harm to health, safety or human welfare.
The actual danger.
What is risk
the chance of causing harm by being exposed to a hazard.
The possibility of danger.
How many days of work are lost every year in Canada from workplace injuries
16 million
Risk estimation
uses scientific information and analytical methods to calculate the estimated degree of risk
Risk evaluation
considers non-scientific aspects of the risk problem (economic, social, political, legal)
Risk control
deals with the identification and selection of possible risk control options, and their appropriate means of implementation
The three core activities in the risk management process are:
Risk estimation
Risk Evaluation
Risk Control
