Acceptable residual risk - principles, philosophies and practicalities

Andrew John Rae

10 citations0/0 files storedIET International Conference on System Safety

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Risk and Safety Analysis Occupational Health and Safety Research Industrial and Mining Safety

Abstract

Safety is typically demonstrated by identifying hazards, mitigating those hazards, and then by showing that the remaining risk is acceptable. This paper begins by setting out some principles for assessing tests of risk acceptability. It then categorises and examines existing methods of testing for risk acceptability against those principles, and finds that they fall short. A new measure of risk acceptability is proposed, the Minimum Industry Safety Return on Investment (MISRI). MISRI is an industry-specific measure, which complies with ALARP and with the principles espoused in the early part of this paper.

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References

1987Perception of Risk 2003The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World 1976Of Acceptable Risk: Science and the Determination of Safety

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2010Safety risk perception in construction companies in the Pacific Northwest of the USA

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