Describe Strategies to Control Losses
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Total Pages: 49
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Training Objectives
Upon completion of this loss control training kit, you will be able to:
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Identify the reasons organizations implement loss control measures
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Describe three sources of loss in the workplace
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Explain the importance of identifying measurable consequences
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Describe the two factors affecting risk
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Describe methods to reduce the risk of incurring losses
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Describe factors to consider when selecting controls
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Identify the areas addressed by a comprehensive loss control program
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Table of Contents
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1
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Introduction
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1
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2
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Identify Loss
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3
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2.1 Defining Loss
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3
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2.2 Causes of Loss
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4
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2.3 Consequences of a Loss Incident
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5
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3
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Assessing the Risk of Loss
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6
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3.1 Definitions
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6
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3.2 Basic Risk Concepts
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7
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3.3 Risk Assessment/Analysis Tools
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9
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4
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Reducing Risk
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12
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4.1 Organizational Priorities for Reducing Risk
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12
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4.2 Control Alternatives
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14
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4.3 Selecting Controls
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17
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4.4 Monitoring Control Effectiveness
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19
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5
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Loss Management Programs
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20
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5.1 Stand-Alone Programs
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20
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5.2 Comprehensive Integrated Programs
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22
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6
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Summary
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23
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7
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Self Check
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25
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8
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Self Check Answers
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28
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9
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Glossary
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28
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Appendix 1: Hazard and Operability Study (HAZOP)
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32
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Appendix 2: Failure Mode Effects Analysis (FMEA)
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35
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Appendix 3: Fault Tree Analysis (FTA)
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37
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