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Risk Management

Risk Management. Chapter 3. 3- 1. Learning Objectives. Define risk. Define risk management. Discuss the meaning of and the process for risk identification. Discuss the meaning of and the process for risk evaluation. Discuss the meaning of and the process for risk control. Cont.

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Risk Management

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  1. Risk Management Chapter 3 3-1

  2. Learning Objectives • Define risk. • Define risk management. • Discuss the meaning of and the process for risk identification. • Discuss the meaning of and the process for risk evaluation. • Discuss the meaning of and the process for risk control. Cont. 3-2

  3. Learning Objectives • Discuss the use of a cause and effect diagram. • Explain the interrupting the accident sequence process. • Discuss the components and use of the Haddon Matrix. • Differentiate between passive and active, and voluntary and mandatory risk reduction strategies. • Apply risk control strategies to an injury problem. 3-3

  4. Introduction • Risk as defined by NFPA 1500 • Risk Management includes five components: • Risk identification • Risk evaluation • Establishment of priorities for action • Risk control • Risk management monitoring • Risk management is recommended in Life Safety Initiative 3 3-4

  5. Risk Identification • Anything bad that could happen to an organization • Local experience • Identification of trends • Safety audit • Reviewing previous injury experience 3-5

  6. Risk Evaluation • Frequency • How often a particular risk is likely to occur • Severity • Measurement of how great the loss or the consequences of the loss will be • Costs • Organizational impact • Establishment of Priorities for Action 3-6

  7. Frequency and Severity Frequency and Severity of Identified Risks 3-7

  8. Risk Control • Three broad categories • Risk avoidance • Not to do the task with which the risk is associated • Option not usually available to emergency response profession • Nature of the profession • Called when things have already gone wrong Cont. 3-8

  9. Risk Control • Three broad categories (cont.) • Risk reduction • Reduce the risk or minimize the chance that it will occur • Measures must involve input from the employees who are affected • Cause and effect diagrams • Interrupting the Accident Sequence • The Haddon Matrix Cont. 3-9

  10. Risk Control • Three broad categories (cont.) • Risk transfer • Closely related to the safety and health program • The amount paid for insurance based on previous experience, including injuries, accidents, and other risks • Workers’ Compensation Insurance • Management Liability • General Liability • Property Insurance • Vehicle Insurance 3-10

  11. Interrupting the Accident Sequence Classification of Events Leading to Back Injury 3-11

  12. Control Measures Completed Matrix Comparing Voluntary and Mandatory Passive and Active Measures 3-12

  13. Summary • Risk management is a five-step process: • Risk identification • Risk evaluation • Establishment of priorities for action • Risk control • Risk management monitoring • Safety and health program management is not only subjective • Programs have objective components that are the foundation for local decision making 3-13

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