What Is the Difference Between Risk Assessment and Risk Management? - Aviation Professional

Breaking

Tuesday, November 16, 2021

What Is the Difference Between Risk Assessment and Risk Management?


Risk Management

Safety Risk Management is a formal process that is used to identify hazards associated with airline operations, analyze and assess the risks associated with those hazards, and implement controls, when necessary, to prevent future accidents and incidents. The safety risk management process can be both reactive and proactive. It is used to prioritize the resulting process improvements to ensure the best allocation of resources.

Before answering the question, I will give you the following definitions to facilitate understanding.

 

What Is the Safety Hazard?

A condition or an object with the potential to cause death, injuries to personnel, damage to equipment or structures, loss of material, or reduction of the ability to perform a prescribed function.

What Is the Safety Risk?

The assessment, expressed in terms of predicted probability (Frequency) and severity, of the consequence(s) of a hazard taking as reference the worst foreseeable situation.

 

Safety Risk Management

In the recent developments in fundamental risk management principles and strategies, there are two pillars of risk management.

A- The main risk management strategies available.

It is the macro-level process of assessing, analyzing, prioritizing, and making a strategy to mitigate threats/hazards to airline operations.

So, risk management is the overarching umbrella when it comes to risk. It includes both risk assessment and risk analysis. 

The Safety Management system involves the second component (risk management).  It defines the purpose of the risk management activities and specifies goals and criteria. It offers the airline safety managers the ability to maximize the realization of available opportunities to avoid risks.

Difference Between Risk Assessment, Risk Management


B- The structure of the risk management process.

It deals with every single hazard in any operational context or for all operation scop as a risk management strategy.

The risk management process includes:

 

1- Establish context

For example, ground operations. 

2- Risk Identification

The risks identification is the process of determining the predisposing risk conditions that can reasonably be expected to affect airline operations. In the hazard's identification process, risks are identified considering procedures, human factors, equipment, training, and related operational environment aspects. In addition, it identifies the authority, responsibilities, communication interfaces, process measures, and controls to assure that the operational tasks are accomplished as intended. Also, that all related functions are interacted with properly.

3- Risk Analysis

is the micro-level process of measuring risks and their associated impact.

A- Consequences

Risk Analysis: Severity

The possible consequences of an unsafe event or condition, taking as reference the worst foreseeable situation.

B- Likelihood

Risk Analysis: Frequency (predicted probability)

The likelihood that an unsafe event or condition might occur.

C- Tolerability

Risk Analysis: Evaluation

To judge the significance of the risk.

4-Risk Control (Risk treatment): Mitigation

Actions to Take

Control: Prevents the consequence from happening.

Mitigation: This does not prevent the consequences from happening, but it lessens the severity of the consequences.

 

Risk Assessment

It is a micro-level process within risk management. It aims to break down hazards into identifiable categories and define all the potential impacts of each risk.

It includes the following:

 -Identifying risk

- Analysis risk

- Evaluating risk

Risk Assessment


Summary

Risk management is the macro-level process of assessing, analyzing, prioritizing, and making a strategy to mitigate threats to an airline’s operations.

It aims at a balanced allocation of resources to address all risks and viable risk control and mitigation. Furthermore, it is a key component of safety management systems.

While risk assessment is a micro-level process within risk management. It aims to break down hazards into identifiable categories and define all the potential impacts of each risk.

 

You can add and edit this article.

 


No comments:

Post a Comment