Process safety is about understanding hazards and risk, managing risk by providing the appropriate layers of protection to reduce the frequency and severity of incidents, and learning from incidents ...

We propose an approach for the modeling, monitoring and control of operational risk in financial institutions based on a methodology that integrates business process modeling with statistical and ...

Research personnel must perform a process risk assessment for all processes that utilize hazardous materials. The assessment is utilized to determine the level of risk associated with a specific ...

If most midsize companies have a formal risk management process, why did so many fail even in pre-pandemic years? The problem is that risk heat maps — many companies’ primary tool for assessing risk — ...

Successful risk management is essential to the design and development of safe and effective medical devices. Unfortunately, it is too often viewed by manufacturers as an isolated activity that must be ...

Discover essential risk assessment methods, including qualitative and quantitative analyses, to make informed investment ...

OCCUPATIONAL health and safety professionals understand the importance of effective risk management. This understanding, combined with the ability to implement risk mitigation strategies and tactics, ...

LAST week we explored the minimum capital requirements under Pillar 1 of Basel III. This week, we will focus on the firm-wide risk management process and the role of supervisors, under Pillar 2, to ...

Process designs and control strategies can be improved by adopting a risk-based approach to product quality. The author describes how this approach can be applied to spray-drying operations. Taking a ...