Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

RISK CONTROL OPTION ANALYSIS Once the risks associated with underlying factors have been estimated, investigators can begin to devise safety actions to combat those problems.

image text in transcribed
RISK CONTROL OPTION ANALYSIS Once the risks associated with underlying factors have been estimated, investigators can begin to devise safety actions to combat those problems. The culmination of the investigation is to generate means to reduce risk to the transportation system. Purpose: To identify risk control options that will assist in developing convincing arguments for reducing and/or controlling safety deficiencies. DETERMINE THE OPTIONS FOR CONTROLLING RISK Ensure that the full range of possible control measures is considered and that the optimal trade-off between measures is made. Consider one or more of the following strategies: Reducing the probability of adverse consequences * . Reducing the consequence of similar occurrences Segregating the risk exposures Adding redundancy in safety system EVALUATE CONTROL OPTIONS Options, be they regulatory or non-regulatory, are evaluated in terms of the following: Residual risk relative to the original condition Benefits that would result from selecting a specific control option Administrative feasibility (is it doable, durable, enforceable?) . .. Financial feasibility (not required to conduct a detailed cost/benefit analysis) Treatment of residual risk after prevention and mitigation CONSIDER THE FEASIBILITY OF RISK CONTROL OPTIONS Take into account the following elements in considering the feasibility of the control measures: Acceptability to the public and stakeholders Acceptability to the legal system * . ... Acceptability to the culture and values of the society Impact on the market system and competitiveness Impact on public perception when dealing with "perceived risks" Deliverable: A list of risk control options defined in terms of how defences can reduce and control safety deficiencies

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Contract And Commercial Management

Authors: Van Haren

1st Edition

9087537123, 978-9087537128

More Books

Students also viewed these General Management questions

Question

=+What are the states of nature?

Answered: 1 week ago

Question

What are the objectives of job evaluation ?

Answered: 1 week ago

Question

Write a note on job design.

Answered: 1 week ago

Question

Compute the derivative of f(x)cos(-4/5x)

Answered: 1 week ago

Question

Discuss the process involved in selection.

Answered: 1 week ago