Page 8 - EBOOK RISK MANAGEMENT

LIST OF FIGURES

Figure 1.1 Examples of Cost of Risk ....................................................................................................................................2

Figure 1.2 Peril, Hazard and Loss .........................................................................................................................................2
Figure 1.3 Types of Hazard .......................................................................................................................................................3
Figure 1.4 Categories of Risk Tolerance .........................................................................................................................4

Figure 2.1 Other Departments in Organization ........................................................................................................9
Figure 2.2 Benefit and Limitation of Centralization ...............................................................................................9

Figure 2.3 Risk Management Process ............................................................................................................................ 10
Figure 2.4 Website of Department of Standards Malaysia .......................................................................... 11
Figure 2.5 Risk Management Process in ISO 31000:2018 ........................................................................... 15

Figure 3.1 Pure Risk versus Speculative Risk ............................................................................................................. 18
Figure 3.2 Fundamental versus Particular Risk ........................................................................................................ 19

Figure 3.3 Types of Pure Risks .............................................................................................................................................. 19
Figure 3.4 Major Types of Personal Risks .................................................................................................................... 20
Figure 3.5 Types of Property Risks .................................................................................................................................... 20

Figure 3.6 Physical Inspection ............................................................................................................................................. 22
Figure 3.7 Flowchart .................................................................................................................................................................... 23

Figure 3.8 Checklist ...................................................................................................................................................................... 23
Figure 3.9 HAZOP ......................................................................................................................................................................... 24
Figure 3.10 Fault and Logic Tree Analysis................................................................................................................ 24

Figure 3.11 Analysis and Financial Statements ..................................................................................................... 25
Figure 5.1 Risk Management Techniques ................................................................................................................... 39

Figure 5.2 Examples of Risk Prevention ......................................................................................................................... 40
Figure 5.3 Examples of Risk Reduction Tool ............................................................................................................. 40
Figure 5.4 Advantages and Disadvantage of Captive Insurance ....................................................... 41

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