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Bow-Tie Risk Management Tool (Key Features (Central Hazard Theme (Identify…
Bow-Tie Risk Management Tool
Key Features
Central Hazard Theme
Identify a hazard
Be specific
Categorise risks
Proactive Risk Management
Control the threat
Plan for the event
Update risk register and mitigation strategies often
Reactive Risk Management
Plan a recovery method
Implement further training
Escalate to management level
WHS Manager
Direct Report
Senior Management
CEO
Worksafe
Provides a clear picture of many different risk outcomes
Risks are specific
Outcomes are specific
Management is refined to specific risk
How it Should be Applied
Identify Worst Case Scenario from Hazard
Loss of control
Be specific
Identify WCS from each category
Identify the threats that will cause the worst case scenario
List key specific threats
Human Error
What type of error
Which component of the business
What did the person do to cause the error
Why did they cause the error
Weather Conditions
Wet and Rainy
Thunderstorm and lightening strike
Gale winds
Extreme heat
Act of God
Tornado
Volcano
Earthquake
Equipment Failure
What type of equipment
What type of failure
How the equipment failure will affect the outcome
What level of failure will cause worst case scenario
Consequences
Detail the consequences from each threat