Risk assessments, as part of risk management, are the structured process that identifies how objectives may be affected. It analyses the risk in terms of consequences and probabilities before deciding on whether further treatment is required. Risk assessment tools are used to answer the following fundamental questions:
- What can happen and why (risk and hazard identification)?
- What are the consequences?
- What is the probability of their future occurrence?
- Are there any factors that mitigate the consequences or that reduce the probability of the risk?
Based on the context, SyRiM can offer a wide range of risk management services and risk assessment tools, for example:
- structuring and integrating your Risk Management as defined in the ISO Standards,
- Hazard and Operability (HAZOP), Hazard Identification (HAZID) and Environmental Identification (ENVID) studies,
- Failure Mode Effect and Criticality Analysis (FMEA and FMECA),
- Layer of Protection Analysis (LOPA),
- BowTie analysis, and
- consequence/probability matrix studies.