an introduction to risk
DESCRIPTION
A short introduction to the concepts of risk and how risk is determined factoring probability and consequence. Three video's are used during the presentation to stimulate discussion about risk, probability and consequence. The videos in order are: 1. A husband and wife running running across a railway track and nearly getting hit by a very fast training. 2. A training running through the middle of a series of market stalls. (The market is built over the train track). 3. Maintenance of very high voltage electrical feeders.TRANSCRIPT
Imagine you’re driving down this road.You’re alone.
How fast are you driving
RiskRiskRiskRisk
RiskRisk
What is risk?What is risk?
Risk is a measure of the probability of an undesired event occurring
multiplied by the severity of the consequences.
Probability x Consequence = Risk
Risk is a measure of the probability of an undesired event occurring
multiplied by the severity of the consequences.
Probability x Consequence = Risk
RiskRisk
•Continuous - Many times per day
•Frequent - Approximately once daily
•Occasional - Once a week to once a month
•Unusual - Once a month to once a year
•Rare - Has been known to occur
•Very rare - Not known to have occurred
RISK PROBABILITY (P) RISK PROBABILITY (P)
RISK CONSEQUENCES (C) RISK CONSEQUENCES (C)
Catastrophe Multiple loss of life$20,000,000
damage5 days track
closure
Disaster Loss of life$5,000,000 damage,
1 days track closure
Very seriousMultiple
permanent injury$2,000,000
damage8 hour track
closure
SeriousPermanent or serious injury
$500,0004 hour track
closure
Important Lost time injury $20,0002 hour track
closure
Noticeable No lost time injury No damage No track closure
RiskRisk
Imagine you’re driving down this road.You’re alone.
How fast are you drivingImagine you’re driving down this road.And your baby daughter is in the back seat
Now how fast are you driving
VideosVideos
The Worlds Fastest IndianThe Worlds Fastest Indian
Marketing a Train in BangkokMarketing a Train in Bangkok
High Level MaintenanceHigh Level Maintenance
DiscussionDiscussion