Risk Analysis and Management

Course details

Risk: 'Risk is defined as the combination of the severity(S) and probability (P) of an event that can adversely affect the wellbeing of the worker or pose a serious potential of damage to property. i.e. R=S x P and it can be assessed qualitatively and quantitatively.'

There are different techniques which can effectively be used to analyze the risks involved in the given task or the System in any industry which will give us a better understanding of its ability to cause harm and help the management to take corrective actions to prevent these adverse events in advance. These Techniques are extensively applied in the Risk Management process in the Industrial sector such as Petro-chemical Industry, Processing industry, Manufacturing Industry, Construction Industry, Mining industry to asses hazards and take actions to control.

IISS Offers Competency trainings in risk Analysis Techniques

• Hazard & Operability Study (HAZOP), 
• Hazard Identification Risk Analysis (HIRA),
• Failure Mode Effect Analysis (FMEA), 
• Failure Mode Effect & Critical Analysis(FMECA),
• Root Cause Analysis,
• Fault Tree Analysis,
• Event tree Analysis,
• Job Safety Analysis, 
• Job Hazard Analysis, 
• SLAM and SMART for Mining Industry