USE OF BOWTIE TIE TECHNOLOGY IN RISK ASSESSMENT PRACTICE

Abstract

Every business has legal, economic and ethical goals, ranging from mandatory security to commercial goals and corporate citizenship. To achieve these goals, companies take some risk. The balance between risk and reward is a constant problem, no matter what action is taken. Risk identification is the process of identifying, recognizing and documentation of risks. Its purpose is to determine what may or may not occur that will affect the achievement of the goals of the system or organization.The Bowtie technique can be used to visualize, assess and manage risks. Bow Tie Analysis is a qualitative risk assessment methodology that provides a way to effectively communicate complex risk scenarios in an easy-to-understand graphical format and shows the relationship between the causes of adverse events and the possibility of escalating losses and damages. Bowtie can reflect actions that prevent the emergence and development of risk in the enterprise, as well as remedial measures that are ready to limit the possible effects after the occurrence of this risk, specific to each reliable result. The article reveals the process of risk identification as the first stage of their management on the example of the enterprise. The first stage is the identification of assets based on documentation enterprise, its financial statements, charter, development strategy, corporate governance concept. Process identification of sources of risk the author highlighted through the use of the method of analysis "tie-butterfly", which allows a schematic representation of the analysis of ways development of risk from cause to effect. The author focuses on the barriers between cause and risk, as well as between risk and consequence, in this type of analysis. Identification of risk events determines one of the priorities for the analysis of types of risk, the risk of accidents at railway facilities. The author highlights the top risks for the company. The stage of identification of existing control measures involves the study of existing systems or measures for monitoring and control operating at the enterprise. Typical external and internal risks for the industrial enterprise are formed.