Listing Risks and Understanding their Relative Significance | IT

Home Recent Questions Listing Risks and Understanding their Relative Significance | IT

Choose a type of Risk that is of professional interest to you. Ensure first that you understand what is meant by the phrase “Type of Risk”. For my benefit and your own describe the nature of the situation in which this Risk exists and the role you have or envisage having in managing this type of Risk.

Define the Risk carefully (5 marks)

What Risk parameters would you use to describe this Risk in a manner that enabled it to be compared in significance with other Risks of a different nature? Briefly explain your reasons for choosing them and for not choosing others. (5 marks)

Propose both nominal and associated ordinal scales that would suite your chosen Risk parameters given the situation in which the Risk exists. (5 marks)
What Risk Factors do you believe should be used to allow this particular Risk to be compared with other Risks of the same type? Identify them and briefly explain your choice. (5 marks)
Propose both nominal and associated ordinal scales that would suite your chosen Risk Factors given the situation in which the Risk exists. (5 marks)
Having read the various papers provided on the subject of the Risk Matrix, discuss the practical utility of the scales you have proposed. This discussion will need to consider any possible ambiguities in the words used or their interpretation and your views on the subjectivity of the decision a user will make in choosing a particular part of a scale. (8 marks)

Part B:
The purpose of this task is to give you some introductoryexperience in identifying Mechanisms and Outcomes and drawing risk analysis diagrams as a model of the Risk in question. The forms these logic diagrams take is important as they are used and understood in this way around the world, so don’t invent your own- use the forms of the diagrams explained.
Note that Mechanisms are neither “causes” nor failed control measures. You need to understand exactly what that point means. They are physical possibilities. Outcomes are also physical possibilities.
Consider the case study below as an example of one construction crane collapse. It is not the only example, eg. Mecca on 12/9/15 and no doubt there are many other examples.
Note that in doing this exercise you should not allow yourself to be mesmerised by any one actual case, but to consider this type of Risk and the the use of the Risk Analysis methods explained to produce a Risk Analysis model of this type of Risk.

The assignment tasks are:
Define the appropriate Event and draw, with brief written explanation, a Mechanism analysis logic diagram that contains all possible Mechanisms for the Event. [16 marks]
Determine and explain your choice of the ‘questions’ which you would use to provide structure to the Outcome process and draw an Outcome Analysis diagram for the case based on those questions. As above, the goal is to consider all possible Outcomes, not just explain this one particular outcome. [17 marks]

Part C:
The materials to which this topic draws your attention (the three chapters in the text, the lectures and the provided readings) contain many points of view from which the subject of risk management can be understood (technical, cultural, management systems, possible conflicts with productivity) as well as drawing attention to the (not always positive) influences of commercial interests providing risk management methods and advice.
In about 1000 words, write a précis of what you have taken from these readings: what you found of most interest and value.

POINTS for this assignment

Part C is 1000 words
Part A and B combined should be about 1000 too. So total will be 2000.
Case study: Fall hazards and Fall prevention on construction sites
Part C the writer can pick any topic
For part A chosen risk will be Fall hazards and Fall prevention on construction sites

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