📌 Essential Risk Assessment Tools You Should Know

Use them to protect your people, processes, and productivity!

1️⃣ BIA – Business Impact Analysis

🔍 What is it?
A method to identify critical business functions and assess how disruptions (e.g., power outage, cyberattack, natural disaster) would impact the organization.

📈 Used in:

• Business Continuity Planning (BCP)
• Disaster Recovery
• Crisis Management

🛠 Key outputs:

• Maximum Allowable Downtime (MAD)
• Recovery Time Objective (RTO)
• Recovery Point Objective (RPO)

2️⃣ FMEA – Failure Modes and Effects Analysis

🔍 What is it?
A systematic, proactive tool to identify where and how a process or product might fail—and to assess the impact, cause, and detection difficulty of each failure.

📈 Used in:

• Manufacturing and engineering
• Quality management (ISO 9001)
• Product development

🛠 Key outputs:

• Risk Priority Number (RPN = Severity × Occurrence × Detection)
• Action plan to reduce or eliminate failure modes

3️⃣ HAZOP – Hazard and Operability Study

🔍 What is it?
A structured, team-based method to analyze potential hazards and deviations in complex systems or processes (especially in chemical, oil & gas, utilities).

📈 Used in:

• Process safety (e.g., ISO 45001, OSHA compliance)
• Chemical and industrial plants
• Control system review

🛠 Key outputs:

• Hazard scenarios
• Deviations from design intent
• Safeguards and recommendations

🔒 Whether you’re building safer factories, protecting sensitive data, or ensuring business resilience, these tools help you predict, prevent, and prepare.