Risk Analysis and Risk Management

Abstract

This chapter introduces the concept of risk, gives references to standards and major documents which deal with risk, and defines terms relating to risk. The procedures in the management of risk are then outlined and the legislative approach to risk is discussed and illustrated by an example. Various types of risk are described, and hazard analysis and the assessment of consequences are discussed. Factors in mitigating risk and contingency planning are presented and an example of the use of layer of protection analysis is given. The chapter concludes with an example of risk analysis and management in a water supply system.