THE HIERARCHY OF RISK REDUCTION MEASURES NOT ALL MEASURES ARE CREATED EQUAL...
IN THE LaST ISSuE, RISkTEC CONTINuEd ITS SERIES Of aRTICLES ON RISk maNaGEmENT, bY INTROduCING THE PRINCIPLE Of aLaRP: THAT RISK MUST BE REDUCED TO A LEVEL WHICH IS “AS LOW AS REASONABLY PRACTICABLE”. THAT ARTICLE ALSO DISCUSSED THE PROCESS BY WHICH DECISIONS CAN BE MADE ON WHETHER OR NOT TO IMPLEMENT A GIVEN RISK REDUCTION MEASURE.
THIS RAISES TWO QUESTIONS:
• What is the best Way to identify potential risk reduction measures? • What criteria can be used to compare potential measures?