Risk Assesment Analysis

A risk exposure is the possibility of loss or injury because of some peril or cause of a loss. Management is the process of planning, organizing, staffing, leading, and controlling human and physical resources in order to achieve the organization’s objectives and goals. Therefore, risk management, by definition, is the management process of planning, organizing, staffing, leading, and controlling an organization’s resources to minimize the possibility of loss or injury from various sources. Simply stated, risk management is the process of identifying and controlling an organization’s losses.

The first sub-problem was to determine what the current risk management program at 2nd Aviation consists of.

The second sub-problem was to validate and verify if all personnel had received risk management training.

The third sub-problem was to determine the effectiveness of the training.

The first hypothesis was that all personnel on 2nd Aviation had received adequate Risk Management train

· Employee and Public relations – a good safety record may well provide companies with a competitive edge.

Once the perils and risks have been identified, the loss potentials are analyzed. This analysis will determine the probability (frequency and timing) of a loss occurring and the impact (severity) of the loss to the organization. The significance of any loss is the degree to which the loss, or combination of similar losses, adversely impacts the organization’s achievement of its mission.

Risk Management. The process of identifying and controlling hazards to protect the force.

Now that the risk and loss potential have been identified and analyzed, an appropriate method or methods must be chosen to mitigate or control the negative impact that the loss would have on the organization. This aspect of risk management is commonly referred to as “risk control.”

Hazard. This is any real or potential condition that can cause injury, illness, and death of personnel, damage to or loss of equipment or property.

The program must have a method or mechanism for monitoring that will determine if the program is meeting its objectives. If the monitoring determines the program is not meeting its objectives, the program must have the flexibility to implement changes that will bring the program back on track.

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