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What steps can be taken to prevent the loss?

Improved safety studies and training programs; implementing new, less hazardous processes; programs/projects to reduce injuries and property loss; and/ or general safety enhancements.
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Accidents can be prevented by these tips but are not limited to: Having competency people and a training framework in place Preventative and Corrective maintenance programs in place Adhere to internationally process safety guidelines (eg. OSHA) Encourage Safety communication
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Loss prevention in the oil & gas, energy, chemical and petrochemical industries concerns the identification and assessment of possible plant accidents and losses, including process safety issues, with the aim to ensure the required engineering and operational measures to prevent or mitigate loss.
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Three simple steps for successful Risk Management include Risk Identification, Risk Assessment and Risk Planning.
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Not all risks can be avoided. Notable in this category is the risk of death. But even where it can be avoided, it is often not desirable. By avoiding risk, you may be avoiding many pleasures of life or the potential profits that result from taking risks. A business cannot operate without taking some risks....
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Risk control begins with a risk assessment to identify the presence and severity of workplace hazards. Employers must then implement the most effective controls available.   In order of effectiveness (from most effective to least), risk control methods include: Elimination: removing the risk entirely Substitution: swapping an item or work process for a safer one...
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Common strategies for risk responses are avoided, transfer, mitigate, and accept.
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Some risks can be eliminated but not all risks can be avoided.
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You have loss prevention in your business if you have any actions taken to reduce the number of hazards and mitigate risk in your organisation.
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In order to eliminate the change of loss, risk control methods (from most effective to least) include: Elimination: removing the risk entirely Substitution: swapping an item or work process for a safer one (for instance, switching to an industrial cleaner that poses fewer respiratory risks) Engineering controls: modifications to the environment or equipment that poses...
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