Risk Engineering

Risk metrics


Overview

Location-based risk Measurement is a key step in any management process and forms the basis of continual improvement. However, safety performance is difficult to measure, because:

  • success results in the absence of an outcome (injuries, losses, health impacts)
  • safety is a “dynamic non-event” [K. Weick]
  • low incident rates, even over several years, do not guarantee that major accident hazards are controlled

As a result, there is no single and easy to measure indicator for safety and safety performance (a “KPI” in management-speak). These slides describe different approaches to expressing risk to people, including individual risk measures such as IRPA, measures of societal risk such as F-N curves and PLL, and occupational safety metrics such as LTRIR. They also highlight a number of unintended consequences that may arise if safety managers, insurers and regulators adopt a simple-minded, mechanistic approach to the use of metrics in risk management.

This submodule is a part of the risk management module.

Course material

Risk metrics

Lecture slides (PDF)
View on SlideShare

Other resources

We recommend the following sources of further information on this topic:

Last updated: