Risk Management Services
Periculum Global is pleased to be able to offer an extended range of Risk Management Services to complement the work we already carry out on your behalf.
We now have specialists in the BowTie Analysis of all the Hazards (MAH’s) and Process Risks that your business maybe faced with on a daily basis. In many parts of the world this process is mandatory to gain an operational licences specifically in the Hydro Carbon Markets in the Middle East. Whilst not yet a regulatory requirement in the UK, this methodology of Risk Management - BowTie Analysis is strongly recommended by the UK HSE for Industrial and Civil clients and the methodology is widely recognised and documented as being the most logical and practical methodology for demonstrating the management of risks in the UK Safety Case format.
A Bowtie Risk Management System is a structured and documented process for managing risks within a company, to assure the protection of people, assets, business reputation and for the protection of the environment.
A Company Management System will often follow a common structure, starting with the business principles, followed by the progressive and continuous development of risk identification and subsequent mitigation. The manner and means by which risk is controlled is delivered through people and procedures which are also identified.
In its simplest sense the BowTie can just be a pictorial relationship of the hazards that can threaten the business through to the identification of how these hazards can be realised and what consequences may occur as a result. The controlling measures, the barriers, are also shown.
Subject to the nature of the BowTie tool used and processes by which information is distilled or collected, the Management System representation can be much more thorough, and could include:-
- Assigning actual levels of risk via a corporate risk matrix
- Developing ‘Critical Tasks’ which serve to illustrate how a control will be managed.
- The document management system and linking of the relevant documents to the controls.
- Identification and assignment of competent personnel to the Critical Tasks
- Monitoring the performance of the controls via effective ratings
- Capturing shortfalls, assigning and tracking actions
The purpose of the BowTie is to be a dynamic reflection of the Management System which through its clarity can be readily contributed to and understood at all levels in an organisation. For those industries which are regulated, the BowTie is a clear statement that a business is serious about understanding and managing its risk profile.
The BowTie process is an extremely attractive presentation tool and there can be numerous pre-defined reports which can be automatically generated. The ability to query the database in this way adds increased flexibility.
In summary, the BowTie process can be used for a number of applications:
- Supports management of major hazards
- Unlocks relationships between hazards, controls and tasks
- Bow-Tie diagram summarises hazard and effects analysis
- Used for hazard awareness training
- Preparation of emergency exercises
- Hazard gap analysis
- Incident investigation
- Input into operating procedures, job descriptions, annual tasks and targets, defining individual roles & responsibilities, etc.
- Possible linkage to other forms of analysis eg. Layer of Protection Analysis
- Capture shortfalls and use to track remedial actions
- Audit checklists/planning – e.g. Critical Tasks can be used as the basis for audit checklists