Bow Ties in Risk Management

Bow Ties in Risk Management

Author: CCPS (Center for Chemical Process Safety)

Publisher: John Wiley & Sons

Published: 2018-10-09

Total Pages: 224

ISBN-13: 1119490391

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AN AUTHORITATIVE GUIDE THAT EXPLAINS THE EFFECTIVENESS AND IMPLEMENTATION OF BOW TIE ANALYSIS, A QUALITATIVE RISK ASSESSMENT AND BARRIER MANAGEMENT METHODOLOGY From a collaborative effort of the Center for Chemical Process Safety (CCPS) and the Energy Institute (EI) comes an invaluable book that puts the focus on a specific qualitative risk management methodology – bow tie barrier analysis. The book contains practical advice for conducting an effective bow tie analysis and offers guidance for creating bow tie diagrams for process safety and risk management. Bow Ties in Risk Management clearly shows how bow tie analysis and diagrams fit into an overall process safety and risk management framework. Implementing the methods outlined in this book will improve the quality of bow tie analysis and bow tie diagrams across an organization and the industry. This important guide: Explains the proven concept of bow tie barrier analysis for the preventing and mitigation of incident pathways, especially related to major accidents Shows how to avoid common pitfalls and is filled with real-world examples Explains the practical application of the bow tie method throughout an organization Reveals how to treat human and organizational factors in a sound and practical manner Includes additional material available online Although this book is written primarily for anyone involved with or responsible for managing process safety risks, this book is applicable to anyone using bow tie risk management practices in other safety and environmental or Enterprise Risk Management applications. It is designed for a wide audience, from beginners with little to no background in barrier management, to experienced professionals who may already be familiar with bow ties, their elements, the methodology, and their relation to risk management. The missions of both the CCPS and EI include developing and disseminating knowledge, skills, and good practices to protect people, property and the environment by bringing the best knowledge and practices to industry, academia, governments and the public around the world through collective wisdom, tools, training and expertise. The CCPS has been at the forefront of documenting and sharing important process safety risk assessment methodologies for more than 30 years. The EI's Technical Work Program addresses the depth and breadth of the energy sector, from fuels and fuels distribution to health and safety, sustainability and the environment. The EI program provides cost-effective, value-adding knowledge on key current and future international issues affecting those in the energy sector.


Bow Ties in Risk Management

Bow Ties in Risk Management

Author: CCPS (Center for Chemical Process Safety)

Publisher: John Wiley & Sons

Published: 2018-08-31

Total Pages: 216

ISBN-13: 1119490383

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AN AUTHORITATIVE GUIDE THAT EXPLAINS THE EFFECTIVENESS AND IMPLEMENTATION OF BOW TIE ANALYSIS, A QUALITATIVE RISK ASSESSMENT AND BARRIER MANAGEMENT METHODOLOGY From a collaborative effort of the Center for Chemical Process Safety (CCPS) and the Energy Institute (EI) comes an invaluable book that puts the focus on a specific qualitative risk management methodology – bow tie barrier analysis. The book contains practical advice for conducting an effective bow tie analysis and offers guidance for creating bow tie diagrams for process safety and risk management. Bow Ties in Risk Management clearly shows how bow tie analysis and diagrams fit into an overall process safety and risk management framework. Implementing the methods outlined in this book will improve the quality of bow tie analysis and bow tie diagrams across an organization and the industry. This important guide: Explains the proven concept of bow tie barrier analysis for the preventing and mitigation of incident pathways, especially related to major accidents Shows how to avoid common pitfalls and is filled with real-world examples Explains the practical application of the bow tie method throughout an organization Reveals how to treat human and organizational factors in a sound and practical manner Includes additional material available online Although this book is written primarily for anyone involved with or responsible for managing process safety risks, this book is applicable to anyone using bow tie risk management practices in other safety and environmental or Enterprise Risk Management applications. It is designed for a wide audience, from beginners with little to no background in barrier management, to experienced professionals who may already be familiar with bow ties, their elements, the methodology, and their relation to risk management. The missions of both the CCPS and EI include developing and disseminating knowledge, skills, and good practices to protect people, property and the environment by bringing the best knowledge and practices to industry, academia, governments and the public around the world through collective wisdom, tools, training and expertise. The CCPS has been at the forefront of documenting and sharing important process safety risk assessment methodologies for more than 30 years. The EI's Technical Work Program addresses the depth and breadth of the energy sector, from fuels and fuels distribution to health and safety, sustainability and the environment. The EI program provides cost-effective, value-adding knowledge on key current and future international issues affecting those in the energy sector.


Bow-Tie Industrial Risk Management Across Sectors

Bow-Tie Industrial Risk Management Across Sectors

Author: Luca Fiorentini

Publisher: John Wiley & Sons

Published: 2021-05-17

Total Pages: 484

ISBN-13: 1119523834

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BOW-TIE INDUSTRIAL RISK MANAGEMENT ACROSS SECTORS Explore an approachable but rigorous treatment of systematic barrier-based approaches to risk management and failure analysis In Bow-Tie Industrial Risk Management Across Sectors: A Barrier-Based Approach, accomplished researcher and author Luca Fiorentini delivers a practical guide to risk management tools, with a particular emphasis on a systematic barrier-based approach called “bow-tie.” The book includes discussions of two barrier-based methods, Bow-Tie and Layers of Protection Analysis (LOPA), for risk assessment, and one barrier-based method for incident analysis, Barrier Failure Analysis (BFA). The author also describes a traditional method–Root Cause Analysis–and three quantitative methods–FMEA/FMECA, Fault Tree (FTA), and Event Tree (ETA) with a discussion about their link with barriers. Written from the ground up to be in full compliance with recent ISO 31000 standards on enterprise risk management, and containing several case studies and examples from a variety of industries, Bow-Tie Industrial Risk Management Across Sectors also contains discussions of international standards dealing with common risks faced by organizations, including occupational health and safety, industrial safety, functional safety, environmental, quality, business continuity, asset integrity, and information security. Readers will also benefit from the inclusion of: A thorough introduction to the Bow-Tie method, including its practical application in risk management workflow from ISO 31000, the history of Bow-Tie, related methods, and the application of Bow-Tie in qualitative and quantitative ways An exploration of Barrier Failure Analysis, including events, timelines, barriers, causation paths, and multi-level causes A practical discussion of how to build a Barrier Failure Analysis, including fact finding, event chaining, identifying barriers, assessing barrier states, causation analysis, and recommendations A concise treatment of Bow-Tie construction workflow, including a step-by-step guide Perfect for engineers and other professionals working in risk management, Bow-Tie Industrial Risk Management Across Sectors: A Barrier-Based Approach will also earn a place in the libraries of advanced undergraduate and graduate students studying risk management and seeking a one-stop reference on the “bow-tie” approach and barrier-based methods.


Engineering Construction Risks

Engineering Construction Risks

Author: Peter Allan Thompson

Publisher: Thomas Telford

Published: 1992

Total Pages: 86

ISBN-13: 9780727716651

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Risk analysis and management - an overview. When to apply risk management. Quantitative techniques for project risk analysis. Risk in estimating. Contract stategy...


Risk Management in Credit Portfolios

Risk Management in Credit Portfolios

Author: Martin Hibbeln

Publisher: Springer Science & Business Media

Published: 2010-09-30

Total Pages: 268

ISBN-13: 3790826073

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Risk concentrations play a crucial role for the survival of individual banks and for the stability of the whole banking system. Thus, it is important from an economical and a regulatory perspective to properly measure and manage these concentrations. In this book, the impact of credit concentrations on portfolio risk is analyzed for different portfolio types and it is determined, in which cases the influence of concentration risk has to be taken into account. Furthermore, some models for the measurement of concentration risk are modified to be consistent with Basel II and their performance is compared. Beyond that, this book integrates economical and regulatory aspects of concentration risk and seeks to provide a systematic way to get familiar with the topic of concentration risk from the basics of credit risk modeling to present research in the measurement and management of credit risk concentrations.


Guidelines for Risk Based Process Safety

Guidelines for Risk Based Process Safety

Author: CCPS (Center for Chemical Process Safety)

Publisher: John Wiley & Sons

Published: 2011-11-30

Total Pages: 759

ISBN-13: 111820963X

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Guidelines for Risk Based Process Safety provides guidelines for industries that manufacture, consume, or handle chemicals, by focusing on new ways to design, correct, or improve process safety management practices. This new framework for thinking about process safety builds upon the original process safety management ideas published in the early 1990s, integrates industry lessons learned over the intervening years, utilizes applicable "total quality" principles (i.e., plan, do, check, act), and organizes it in a way that will be useful to all organizations - even those with relatively lower hazard activities - throughout the life-cycle of a company.


Hazop and Hazan

Hazop and Hazan

Author: Trevor A. Kletz

Publisher: IChemE

Published: 2001

Total Pages: 262

ISBN-13: 9780852955062

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Hazop and Hazan were developed to identify and assess hazards in the process industries. The use of these techniques leads to safer plants. Understanding the practical issues involved in their correct implementation is the theme of this book.


Effective Risk Communication

Effective Risk Communication

Author: Timothy L. Sellnow

Publisher: Springer Science & Business Media

Published: 2008-12-05

Total Pages: 185

ISBN-13: 0387797270

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Coordination of risk assessments and risk communication strategies requires information sharing and establishing networks of working relationships between groups and agencies. Establishing these relationships necessitates overcoming - stitutional, cultural, and political boundaries. Signi?cant barriers exist between r- ulatory agencies and industry groups. Traditionally, these groups have mistrusted one another, and cooperation and collaboration, including sharing information, c- respondingly has been limited. The adoption of radio frequency identi?cation te- nology for tracking livestock, for example, has been met with signi?cant resistance due in part to mistrust between regulatory agencies and producers (Veil, 2006). In the food industry, the need for coordination has been enhanced by industry in- gration and globalization of both markets and production. In the case of GM foods discussed earlier, disagreements between U. S. , European Union, and Canadian r- ulatory agencies fueled the debate over the safety of GM crops. Overcoming institutional and cultural barriers, and mistrust is necessary to create consistency in risk messages. Open communication and information sharing can help clarify where risk perceptions diverge and identify points of convergence. The outcome may not be universal agreement about risks, but convergence around the general parameters of risk. Summary These best practice strategies of risk communication are not designed to function as distinct steps or isolated approaches. Rather than being mutually exclusive, they serve to complement one another and create a coherent approach to confronting risk communication problems.


Handbook Of Heavy-tailed Distributions In Asset Management And Risk Management

Handbook Of Heavy-tailed Distributions In Asset Management And Risk Management

Author: Michele Leonardo Bianchi

Publisher: World Scientific

Published: 2019-03-08

Total Pages: 598

ISBN-13: 9813276215

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The study of heavy-tailed distributions allows researchers to represent phenomena that occasionally exhibit very large deviations from the mean. The dynamics underlying these phenomena is an interesting theoretical subject, but the study of their statistical properties is in itself a very useful endeavor from the point of view of managing assets and controlling risk. In this book, the authors are primarily concerned with the statistical properties of heavy-tailed distributions and with the processes that exhibit jumps. A detailed overview with a Matlab implementation of heavy-tailed models applied in asset management and risk managements is presented. The book is not intended as a theoretical treatise on probability or statistics, but as a tool to understand the main concepts regarding heavy-tailed random variables and processes as applied to real-world applications in finance. Accordingly, the authors review approaches and methodologies whose realization will be useful for developing new methods for forecasting of financial variables where extreme events are not treated as anomalies, but as intrinsic parts of the economic process.