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Essay / Research Paper Abstract
This 14 page paper looks at how different models of risk assessment may be used. Using the example of a transport company carrying dangerous chemicals the models of reliability, safety and risk analysis, FAR (fatal accident rate), FAFR (fatal accident frequency rate), coarse risk analysis and a decision tree are all used. The bibliography cites 20 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TErisk3a.rtf
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Unformatted sample text from the term paper:
There are many different models which can be used to assess and dissect risk in order to help methods of mitigation to become apparent. In this paper we will use
a logistical risk in order to make use of several different risk analysis techniques to assess the potential source of the risks. In this example we are looking at
a transportation company that is carrying hazardous materials, which could cause environmental damage if they escaped their containers. For example, this could be chemical waste. We will assume the company
already carries a large range of cargoes and is currently considering entering this market as there is an unmet demand that they believe they would be able to meet with
their current resources. As a part of the decision there is the need to assess the risks involved and asses how these risks may be minimised. In using a
risk assessment there is not only the need to identify these different factors, but also assess their likelihood of occurring and the impact they may have on plan (Courtney et
al, 1997, Smallman, 1996, Hood et al, 1992). There are many tools, of which none ca be argued as being the one best tool and none are the single worst.
In this paper we will look at tools that can be used. The student has been guided to both the areas of their lecture and additional research so we will
look to base the ideas and work on both these areas. There are many models which are used to assess risk, each have different advantages and disadvantages. If we
use a mind map to look at the types of risks that may be faced with we can see the following.
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