An Introduction To Risk and Risk Management
An Introduction To Risk and Risk Management
An Introduction To Risk and Risk Management
to Risk
and Risk
Management
An Introduction to Risk
and Risk Management
S
ment. Choices made in life contain risks, which can be minimized,
but are not unavoidable. Even innocent actions have risks because of
unforeseen events.
Risk Management
▼
Risk management is part of everyday life and is an effort to avoid unpleasant sur-
prises. The practice of risk management creates policies and procedures that restrict
behavior. Learning is based on growth and innovation, which typically necessitates
risk. This philosophy of education is inconsistent with risk management, leading to
potential but not insurmountable difficulties. Risk management means anticipat-
ing unsafe scenarios and developing controls against their occurrence. Fortunately,
because physics course activities are well established, this is easier. Risk plays a bigger
role in new activities or when educators become complacent.
Identification
▼
Evaluation
▼
Before evaluating risks, decide what level of risk is appropriate for the course.
Those involved must decide if they are risk takers or risk averters in the educational
process. Think carefully about this. Extreme risk aversion can lead to a very static
Risk Management
subsequent sections.
The basic causes of accidents have been categorized1 as follows:
1. Failure to give adequate instructions or inspections.
2. Failure to properly plan or conduct the activity.
3. Improper design, construction, or layout.
4. Failure to provide protective devices, equipment, or tools.
5. Failure to use provided protective devices, equipment, or tools.
6. Failure to follow safety rules or instructions.
7. Presence of a physical handicap.
8. Lack of knowledge or poor mental attitude.
9. Use of defective apparatus (either knowingly or unknowingly).
▼
Selection
Addressing the risks that survive the evaluation stage requires some effort.
What controls can be implemented to lessen the risks? Gathering the necessary infor-
mation might take time. If the pedagogical benefits make the risk acceptable, then
what alternatives are available? Can a different approach, equipment modification, or
different materials achieve the same objective with less risk?
An important point must be considered at this stage. When deciding on ways to
eliminate risk, be careful to avoid risk substitution — eliminating one risk but having
it be replaced by another equally or more dangerous risk. This is another reason to
have several parties involved in the risk management process.
Table 1. Relationship between phases of risk assessment process and components of risk.2
Identify risks
What losses are What are the What is open
possible? sources of potential loss
uncertainty? and to what extent?
Evaluate risks Are the possible Are the chances Is the exposure
losses bearable worth taking? acceptable?
and worth assuming?
Adjust risks; gain How can potential How can uncertain How can risks be
control losses be events be prevented shared or spread?
moderated? or made less likely?
Gain information How much can be How likely is the Are options available
lost? potential loss? for spreading risk?
Gain time Can delay Can delay reduce Can delay reduce
reduce loss? uncertainty? exposure?
Implementation
▼
The final step is to implement the solutions. The solutions should be reviewed
and updated as the nature of the risks, activity, or laws and regulations change.
Summary
▼
This outline can help in assessing apparatus and activities for hazards, being
as anticipatory as possible (see Legal Implications section). Many causes of accidents
can be immediately eliminated from consideration. While the entire assessment
process may seem confusing and tedious, most instructors already perform an infor-
mal assessment when developing activities. This presentation merely provides a
more comprehensive list of considerations. With practice, use of this process should
become second nature.
Notes
1. N.V. Steere, ed., CRC Handbook of Laboratory Safety, 2nd ed. (CRC Press, Boca Raton, FL, 1971),
pp. 5–6.
2. ibid., p. 28.
3. The New York Times, Feb. 1, 1994.
References
Kenneth R. MacCrimmon and Conald Wehrung, Taking Risks: The Management of Uncertainty (The
Free Press, New York, 1986).
V. Molak, ed., et al., Fundamentals of Risk Analysis and Risk Management (CRC Press, Boca Raton, FL
1997).
N.V. Steere, ed., CRC Handbook of Laboratory Safety, 2nd ed. (CRC Press, Boca Raton, FL, 1971).
Risk Management