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....Continue Reading

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...Continue Reading

Common strategies for risk responses are avoided, transfer, mitigate, and accept.Continue Reading

Some risks can be eliminated but not all risks can be avoided.Continue Reading

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.Continue Reading

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...Continue Reading

Loss control (a.k.a. risk reduction) can either be effected through loss prevention, by reducing the probability of risk, or loss reduction, by minimizing the loss. Loss prevention requires identifying the factors that increase the likelihood of a loss, then either eliminating the factors or minimizing their effect.Continue Reading

The act of reducing severity by identifying the factors that aggravate or increase a loss and taking proactive measures to lessen the effects of those factors.Continue Reading

Loss Prevention techniques in hydrocarbon facilities are to prevent personal injury or loss of life, to protect the installation from fire, explosion, and operational safety hazards inherent to the facilities and Protection of the environment by early detection of hazardous conditions and the subsequent shutdown, vapour depressurizing, and ventilation of hydrocarbons. The design of loss...Continue Reading

Loss Prevention techniques in hydrocarbon facilities are to prevent personal injury or loss of life, to protect the installation from fire, explosion, and operational safety hazards inherent to the facilities and Protection of the environment by early detection of hazardous conditions and the subsequent shutdown, vapour depressurizing, and ventilation of hydrocarbons. The design of loss...Continue Reading