Risk Managment

Question 1

Define Risk Management

Answer 1

The probability and severity of mishap due to exposure to hazard.

Question 2

Principles of Risk Management

Answer 2

Accept no unnecessary risk

Make risk decision at the appropriate level

Accept risk when benefit outweigh the costs

Integrate RM into planning at all levels

Question 3

Risk Management Process

Answer 3

Identify the hazard

Assess the risk (probability/severity)

Analyze risk control measures (reduce or eliminate probability or severity)

Make control decision (at appropriate level)

Implement risk controls (time, resources, personnel)

Supervise and review (are controls being implemented properly and are they affective)

Question 4

Level of Risk

Answer 4

The level of risk posed by a given hazard is measured in terms of:

Severity (extent of possible loss)

Probability ( likelihood that a hazard will cause a loss

Question 5

Assessing Risk

Answer 5

Use risk matrix:

Probability or likelihood:

Probable
Occasional
Remote
Improbable

Severity:

Catastrophic, critical, marginal, negligible

Question 6

Mitigating Risk

Answer 6

Take steps to reduce risk

Try to reduce ether probability or severity or both to reduce risk.

Examples:

Cancel flight
Delay flight
Utilize a crew and equipment

Question 7

IM SAFE Checklist

Answer 7

Illness
Medication

Stress
Alcohol
Fatigue
Eating

Question 8

PAVE Checklist

Answer 8

Pilot

Aircraft

Environment

External pressure

Examine each for risk prior to flight.

Question 9

The 5P checklist

Answer 9

Plan

Plane

Pilot

Programming

Passengers

Used to evaluate the pilots current situation at key decision points during the flight.

Question 10

References for Risk Management

Answer 10

FAA Aviation Instructor’s Handbook

FAA Risk Management Handbook