Glossary of Risk Terms
Definitions for common barrier, risk management, and incident analysis terminology.
Barriers and Escalation Barriers
Barriers are either measures or controls put in place to prevent the top event from occurring (linked to threats on the left side) or measures/controls aimed at reducing the impacts of the consequences once the top event has occurred (linked to consequences on the right side).
BFA (Barrier Failure Analysis)
An incident analysis method to structure an incident and categorize the elements of the diagram according to incident analysis taxonomy. It uses events, barriers, and causation paths to describe a causal sequence of unwanted events.
Bowtie
A diagram that visualizes the risk you are dealing with in an easy-to-understand picture shaped like a bow-tie, creating a clear differentiation between proactive and reactive risk management.
Consequences
The undesirable outcomes that could result from the top event. These can range from environmental damage to injuries, or even loss of life.
Dashboard
Displays key consolidated reports, along with news and important links.
Escalation Factors
Conditions or events that compromise the effectiveness of barriers. For instance, an automatic door might fail if there's a power failure.
Hazard
The starting point of any bowtie. A hazard is something in, around, or part of the organization that has the potential to cause damage.
HAZID
HAZard IDentification is a methodology that enables you to evaluate hazards to identify those that pose the greatest risk.
RCA (Root Cause Analysis)
An incident analysis technique that starts with an incident and drills down into the chain of events that led to that incident until the root causes are identified.
Reference data
Elements that give structure to the application, including the structure of sites, domains, processes, risks, and audit reference data.
SIR (Scenario-based Incident Registration)
Uses common incident scenarios and contextual questions to register, assess, and visualize incidents in a bowtie framework.
Threats
Harmful events that could lead to the top event. They can be the result of a failure, an external influence, or operational issues. Any one threat must have the power to cause the top event on its own.
Top event
The pivotal point in the bowtie diagram. It's the moment when control over the hazard is lost, but adverse consequences have not yet occurred.
TOP-SET Root Cause Analysis
The Kelvin TOP-SET® Root Cause Analysis method revolves around six elements: technology, organization, people, similar events, environment, and time.
Tripod Beta
An incident analysis technique that enables the user to create a full Tripod Beta diagram.