Space X Presentation

Data when assessing risk

Risk Assessment

Start

Collecting Data

Data in this use does not necessarily mean numbers. Instead, it refers to any type of information that can be evaluated in order to improve the probability of making an informed decision

Risk assessment involves verifying that all possible variables have been reviewed and are either ruled out or are addressed. Identifying all of the information, or puzzle pieces, that could possibly be related to the process and deviation is the best way to ensure the right data is collected.

Our ability to eliminate or control risks depends entirely on our ability to identify/anticipate them. Risk cannot be managed or addressed unless it is first identified. Risk assessment is a proactive process, not a reactive one—prepare for risks before they happen.

Why Does Risk Matter?

Types of Data

People Involved

Process Involved

Potential Risk

Outcomes

People Involved

Processes Involved

The persons involved in the actions of the process.The people involved are consider a process input. Identies qualitative data resources and cultivates and understanding of what they expected to happen.

The action conducted in the task. Determining the processes involved is an effective and efficient way to identify errors, as it clarifies where the investigation should be focused

Potential Risk

Outcomes

The possible impacts/effects of the actions. Impacts and Effects are considered process outputs, or the result.

Any risk associated with an action that is possible. Potential risk is comprised of impact detectabilty, severity, and risk probability.

Assessment Organization

Why? Potential Risk

Risk Assessment is identification impacts/effects and evaluation of the risks associated with those impacts/effects. Potential risk is needed to be evaluated to begin risk assessment. Its useful to start with three basic questions

Impact Dectectability

Risk Probability

Severity

How easily can we tell it happened?

What would be the impacts?

How serious are the effects of the impacts?

Potential Risk: Risk Assessment

Conclusions

Collecting data to perform risk assessments to determine root cause allows a person to identify the underlying or initiating risk source(s) or driver(s) and mitigate those risks.

‘Everything in life has risks.’ What you have to actualy learn to do is how to navigate it.'

Risk is ...

• The process, what is happening?
• The people involved (Process inputs)
• The outcomes or impacts (process outputs)
• The potential risks; determined by the dectectability, severity, and probability.

- Reid Hoffman

Root Cause Analysis

Understanding the data behind risk allows for appropriate root cause analysis, which is the process of discovering the root causes of problems in order to identify appropriate solutions.