Risk management identification

Improvements to national c EU risk management Identification of structural changes to the TGD Identification of decision-making structures Opportunities for streamlined decisionmaking... 

Process risk management Management of residual risk through hazard identification, risk assessment and reduction, emergency preparedness, and working with suppliers and customers (including carriers) apply... 

Hazard identification is the first step in process risk management. In order for this procedure to be adequately utilized, the hazard identification team must... 

As discussed in Chapter 4, some risk-based decision making can benefit by the development of tolerance criteria for the various types of risk to which building occupants may be exposed. When identified risks are higher than what can be deemed tolerable, they should be eliminated or reduced to control the company s risk exposure. The process of risk identification and evaluation, comparison to tolerance criteria, and elimination or reduction of intolerably high risk is known as risk management. Figure 6.1 illustrates this process. Application of these tolerance criteria helps protect building occupants and ensure that resources are appropriately applied. 

Identify Chemical Reactivity Hazards Process Risk Management Process Hazard Analysis Identification of Major Hazards... 

Risk management, i.e. the identification of the most appropriate actions necessary to reduce or mitigate the identified risks. 

Therefore, in this approach, we develop Risk Model III as a reformulation of Risk Model II by employing the mean-absolute deviation (MAD), in place of variance, as the measure of operational risk imposed by the recourse costs to handle the same three factors of uncertainty (prices, demands, and yields). To the best of our knowledge, this is the first such application of MAD, a widely-used metric in the area of system identification and process control, for risk management in refinery planning. 

Risk assessment starts with risk identification, a systematic use of available information to identify hazards (i.e., events or other conditions that have the potential to cause harm). Information can be from a variety of sources including stakeholders, historical data, information from the literature, and mathematical or scientific analyses. Risk analysis is then conducted to estimate the degree of risk associated with the identified hazards. This is estimated based on the likelihood of occurrence and resultant severity of harm. In some risk management tools, the ability to detect the hazard may also be considered. If the hazard is readily detectable, this may be considered a factor in the overall risk assessment. Risk evaluation determines if the risk is acceptable based on specified criteria. In a quality system environment, criteria would include impact on the overall performance of the quality system and the quality attributes of the finished product. The value of the risk assessment depends on how robust the data used in the assessment process is judged to be. The risk assessment process should take into account assumptions and reasonable sources of uncertainty. Risk assessment activities should be documented. 

The conditions under which the drug is used need to be estimated as do acceptable residues linked to the level of acceptable risk to the consumer. The acceptable level of risk, which is determined in theory at the risk management stage, has already been expressed in terms of residues by the ADI under hazard characterization. Moreover, the elements considered for hazard identification, hazard characterization, and exposure assessment make it possible, for a given form of utilization of a particular substance, to establish a profile of residues in animal tissues and to associate this with a profile of consumer exposure. Comparison of this consumer profile and ADI indicates whether the mode of utilization of the substance is acceptable or not. Analysis of the different results of residue content in animal products then provides an indication of level of residues in one or several animal tissues, making it possible to differentiate between veterinary drug applications that do or do not permit compliance with the ADI. 

In the case of biological contamination, the identification of risk became obvious by experience, the risk assessment was made unambiguous by epidemiology, and the immediate and obvious effectiveness of the risk management decisions demonstrated their wisdom in the absence of elegant quantitative risk extrapolation models and projections of costs per case averted. Costs of water treatment and distribution became trivial relative to almost all other essential commodities, and in the public expectation the biological safety of drinking water became axiomatic. 

The fundamental and unresolvable element concerning adverse health effects and trace chemical contamination of drinking water is that in all but a few exceptional cases, three elements—risk identification, risk assessment by epidemiological data, and demonstrable risk management results—may never be available. 

Risk assessment is frequently described as involving four components - hazard identification, exposure assessment, dose-response assessment, and risk characterization. Risk assessment may be an input to risk management. 

The objective of this monograph is to provide an overview on the nature and characterization of uncertainty in exposure assessments, including guidance on the identification of sources of uncertainty, its expression and application, not only in risk assessment, but also in risk management decisions, delineation of critical data gaps and communication to decisionmakers and the public. 

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