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IJSTR >> Volume 6 - Issue 5, May 2017 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Risk Management Praxis In Engineering Industries.

[Full Text]

 

AUTHOR(S)

S. C. Ibeh, A. M. Muritala, J. Audu, R. Imadu, M. Ephraim

 

KEYWORDS

Risk, Risk management, Risk personnel, Mitigation

 

ABSTRACT

Engineering industries from time-to-time is learning about risk management as much work is accomplished in mitigating the impact of the risk. None of these control procedures are absolutely new to these industries but a repetition is said to be for emphasis. Hence, the process of risk management commences with the ability to identify all possible risks and their impact because you cannot fight what you cannot see. This is followed by accepting the responsibility of confronting these risks before it reaches its peak level. This is why it becomes imperative to be acquainted, comprehend the praxis of risk management. The study seek to identify these risks, analyse an effective and effective risk control measures, utilise the opportunities hidden within these uncertainties while a same time minimise the impact of risk. It’s a generally knowledge that risk management is the sole responsibility of both individual and the organisation and most of these control measures are acceptable to industries. In my opinion, such acceptable level of risk mitigation is the definition of an individual or the organisation because you or the organisation determines the level of risk to bear or accept.

 

REFERENCES

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[4] International Council on Systems Engineering (INCOSE), January 2010, INCOSE Systems Engineering Handbook, Version 3.2, INCOSE- TP-2003-002-03.2, p. 213––225

[5] Veer Galyna Andrushko. Contingency Planning-Developing a good plan B. Retrieved https://www.mindtools.com/pages/article/ newLDR_51.htm

[6] Hierarchy of Hazard Control. New York Committee for Occupational Safety & Health. Archived from the original on 2012-03-05. Retrieved 2012-04-11

[7] Engineering control. U.S. National Institute for Occupational Safety and Health. Retrieved 2012-04-11.

[8] National Institute of Standards and Technology, July 2002, Risk Management Guide for Information Technology System, Special Publication 800-30, p. 1