Ch 14: Principles of Risk Management for Safety Professionals

About This Chapter

This chapter offers you a convenient way to study the principles of risk management as they apply for safety professionals. You can use the chapter's lessons and quizzes for test preparation, homework help, professional development and more.

Principles of Risk Management for Safety Professionals - Chapter Summary

In this chapter, you'll find short and simple lessons that examine the basic principles of risk management and the ways in which they apply to safety professionals. Our expert instructors use simple definitions and illustrative examples to explain concepts like risk analysis, risk assessment, job hazard analysis and risk management objectives. Upon completion of the chapter, you should be able to:

  • Describe the purpose of risk management and risk analysis in business
  • Outline the process of project risk management
  • Evaluate several risk assessment methods
  • Use cost-benefit analysis
  • Explain the main objectives of job hazard analysis
  • Discuss behavior modification techniques for safety professionals

The bite-sized nature of these lessons helps you quickly move through the chapter. Complete the included lesson quizzes and chapter exam to master these risk management topics. Our instructors can answer any questions you may have, and you'll be able to access the chapter whenever you have free time to study.

10 Lessons in Chapter 14: Principles of Risk Management for Safety Professionals
Test your knowledge with a 30-question chapter practice test
Hazard Identification & Analysis Methods for Safety Professionals

1. Hazard Identification & Analysis Methods for Safety Professionals

Learn the importance of hazard identification. Explore effective methods to analyze hazard identification, including job safety analysis, operation hazards analysis, human performance analysis and events leading to an incident.

Risk Analysis & Risk Management in Business: Overview, Objectives & Comparison

2. Risk Analysis & Risk Management in Business: Overview, Objectives & Comparison

A successful business requires careful attention to the allocation of resources and, just as important, to the degree to which those resources are exposed to risk. In this lesson, we'll discuss the importance of risk analysis and management in business.

What is Project Risk Management? - Definition, Process & Examples

3. What is Project Risk Management? - Definition, Process & Examples

In this lesson, we'll explore the definition and elements of risk management within project management, learning ways to ensure your project is successful. We'll study how to identify, assess and reduce risk and how to react to risk as it shows up.

What Is a Risk Assessment? - Process, Methods & Examples

4. What Is a Risk Assessment? - Process, Methods & Examples

What is a risk assessment, and why would we prepare one? In this lesson, we'll learn what it is, why it's needed, and how to prepare a risk assessment and rank potential risks for our business.

Understanding & Using Cost-Benefit Analysis

5. Understanding & Using Cost-Benefit Analysis

This lesson will introduce the concepts, advantages, and disadvantages of cost-benefit analysis. Although the cost-benefit analysis is an excellent tool, we shall see that not all costs and benefits can easily be assigned monetary values.

Risk Control vs. Risk Management

6. Risk Control vs. Risk Management

In this lesson, we'll clarify the difference between risk management and risk control. We'll also describe a five step process commonly used in risk management, and then highlight four basic categories of risk controls.

Understanding Insurance Policies and Risk Management

7. Understanding Insurance Policies and Risk Management

Obtaining insurance is one of the most common methods of risk management. In this lesson, you'll learn about insurance policies and some key concepts related to insurance. You'll also have a chance to take a short quiz.

Insurance Coverage for Various Types of Risk

8. Insurance Coverage for Various Types of Risk

Businesses operate in a world of risk. One of the best ways to manage risk is through insurance. In this lesson, you'll learn about the types of insurance coverage available to businesses to help them manage their risks.

Job Hazard Analysis: Definition, Methods & Objectives

9. Job Hazard Analysis: Definition, Methods & Objectives

In this lesson we will review job hazard analysis to learn what it is, its purpose, and the process OSHA recommends when conducting a job hazard analysis.

Behavior Modification for Safety Professionals: Techniques & Examples

10. Behavior Modification for Safety Professionals: Techniques & Examples

This lesson describes the techniques and methods used by safety professionals to conduct behavior modification, based on employee observation of tasks and risk.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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