Compliance inSight Consulting Inc.

V2N1–Risk Scoring Systems—An Interview with Tom Doyle

Laptop computer set up with two microphones and an audio mixer for posdcasting production

Transcript

One of the key tools in car­ry­ing out a risk assess­ment is the risk scor­ing sys­tem used. There are lots of risk scor­ing sys­tems out there, so how do you choose one for your project? What about risk assess­ment and risk man­age­ment soft­ware sys­tems? Tom Doyle , Pres­i­dent of Indus­tri­al Safe­ty Inte­gra­tion joins Doug to dis­cuss these impor­tant issues.

The basic tool used in risk assess­ment is the risk scor­ing sys­tem. These sys­tems range in com­plex­i­ty from very sim­ple two-vari­able meth­ods that con­sid­er only sever­i­ty and aggre­gate prob­a­bil­i­ty to much more sophis­ti­cat­ed sys­tems with four or more vari­ables. Scal­ing is also wide­ly vari­able, with as few as two choic­es to as many fif­teen choic­es for each vari­able. There are also pure­ly math­e­mat­i­cal mod­els that use prob­a­bil­i­ty cal­cu­la­tions to deter­mine risk lev­els. How do you choose a sys­tem? How fine do the scales need to be to give you results that make sense?

Tom Doyle , Pres­i­dent of Indus­tri­al Safe­ty Inte­gra­tion, a Cana­di­an man­u­fac­tur­er of Risk Man­age­ment soft­ware joins Doug to dis­cuss these issues. For more infor­ma­tion on Indus­tri­al Safe­ty Inte­gra­tion and the CIRSMA risk assess­ment soft­ware sys­tem, con­tact Tom Doyle direct­ly +1 (519) 848‑6235.

Send your com­ments and ques­tions to Doug Nix.

In our next episode, we’ll delve deep­er into Haz­ard Iden­ti­fi­ca­tion, the first step in risk analysis.