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The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas.
Safety is the condition of a "steady state" of an organization or place doing what it is supposed to do. "What it is supposed to do" is defined in terms of public codes and standards, associated architectural and engineering designs, corporate vision and mission statements, and operational plans and personnel policies.
The risk rating of the hazard prior to applying the control is known as the 'inherent risk rating'. The risk rating of the hazard with the control in place is known as the 'residual' risk rating. Risk, within the occupational health and safety sphere, is defined as the 'effect of uncertainties on objectives [8] '. In the context of rating a ...
[2] [3] [4] Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety. Certain risk management standards have been criticized for having no measurable ...
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [2]
Occupational safety and health (OSH) or occupational health and safety (OHS) is a multidisciplinary field concerned with the safety, health, and welfare of people at work (i.e., while performing duties required by one's occupation). OSH is related to the fields of occupational medicine and occupational hygiene [a] and aligns with workplace ...
Hierarchy of hazard control is a system used in industry to prioritize possible interventions to minimize or eliminate exposure to hazards. [a] It is a widely accepted system promoted by numerous safety organizations. This concept is taught to managers in industry, to be promoted as standard practice in the workplace.
Occupational hazard, as a term signifies both long-term and short-term risks associated with the workplace environment. It is a field of study within occupational safety and health and public health. [3] Short term risks may include physical injury (e.g., eye, back, head, etc.), while long-term risks may be an increased risk of developing ...