Risk Assessment And Risk Assessments

1178 Words Nov 6th, 2015 5 Pages
Risk Assessment
IEE 454
Bowen Wan
1208534297
Email: bwan4@asu.edu

Abstract:
As Broughton said, we should try our best to avoid risks first by based care like improving quality of products instead of relying on latest risk assessment tool, although risks are not avoidable all the time.

Table of contents: What is Risk Assessment Value of Risk Assessment Qualitative Risk Assessment Quantitative risk assessment
Criticism of quantitative risk assessment Typical Risk Assessment Tool: Brainstorming What should we expect from risk management
Risk assessment misuse
Conclusion

Body of the paper:

What is Risk Assessment:
Risk assessment is intended to reduce the risk to an acceptable level. It will not be completed until the risk can be tolerated. In all types of engineering systems, complex risk assessments are often performed when it comes to a specific situation and a recognized threat concerning life, environment or machine operation and financial decisions. Nuclear, aviation, petroleum, railway and military and some other industries have a long history of risk assessment. Today, people use risk assessment tools to control the risks of a variety of industries, including medical, financial services, insurance, health, food and government.
Risk assessment methods are different between all kinds of industries. There are varieties of risk assessment methods to apply depending on the complexity of the situation.…

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