Flashcards in CSP Domain 3: Risk Management Deck (57)
What is a limited scope audit
Examines only one program at a time, which allows for increased thoroughness and efficiency
Ex. Hearing conservation program
What method is the MOST effective at determining potential problems in a system?
Failure Mode and Effect Analysis
Poor countermeasures and a weak causation analysis are examples of
Safety Program Defects
Designation for risk management professionals from The National Alliance for Insurance Education and Research
Certified Risk Manager (CRM)
What are the 3 dimensions of measurement when discussing health and safety performance?
Capability, Compliance, and Deployment
What is an accurate definition or formula to measure loss ratio?
What is the difference between loss prevention and loss reduction
Prevention-reduces the likelihood a loss will occur -Training
Reduction-reduces severity of a loss- Installing firewalls, sprinklers, and equipping a fire brigade
What is the final step in the risk management?
Administering the process
List the major elements of an effective health and safety program:
-Hazard Prevention and Control
-Health and Safety Training.
Designation for risk management professionals from Institutes for Risk and Insurance Knowledge Group
Associate in Risk Management (ARM)
What are the three levels of accident causation?
What is the William Fine method for?
To decide if there is a justification for the cost to correct a hazard and how quickly to react.
How does Fine’s risk method calculate a risk score?
Consequences * Exposure * Probability
What determines the overall risk assessment using a risk matrix
The highest level of risk
Risk analysis method for allocating funds to achieve the greatest risk reduction across several departments within a plant
Logical process risk analysis
What is true of enterprise risk management
-Prioritizes and manages exposures as a comprehensive group (not individual clusters)
-Designed to emphasize a wide array of risks
-Applies to a broad range of functions
Which calculation is used to evaluate when an investment will pay for itself based on savings
Time value of money
Hierarchy of controls from most effective to least preferred
When an employee can still work after being injured but cannot perform normal tasks
What are the four major factors that should be investigated with each incident?
What needs to be identified during an incident investigation:
-Management system that failed
-Unsafe act or conditions that led to a release of energy
-Source of the energy that was release
*Should not focus on finding fault or fixing blame
What are risk perception factors that lead to overestimation?
-you in control
What is a limit to cost-benefit analysis?
Not all cost and benefits can be easily converted to quantitative or financial terms
According to the Severity Rating Table, catastrophic severity is:
Ideath or permanent disability,
complete project failure or the loss of ability to complete the project, and
loss of major critical systems or equipment
According to the Hazard Probability rating table what is the ratio for an incident to be considered occurring SPORADICALLY?
Occur occasionally but less often than 1/1000 exposures
According to the Severity Rating Table, negligible severity includes:
First aid or minor medical treatment, little or no adverse impact on project capability, and slight equipment or system damage.
When dealing with worker compensation claims, if en employee has a pre-existing condition and it is not documented, how would workers comp handle the claim?
Would have to pay 100% for new injury
What are two key control measures for implementing controls?
The cost of the control and the degree of hazard reduction.
What are the 5 controls included in the control development and decision-making process?