RELCON's risk analysis approach has been developed and refined as a result of many years of experience – principally from collaboration with the nuclear power industry and it's high safety requirements. The unique competence we possess in this field is recognised worldwide. We will continue to develop our methods for effective risk informed decision-making both regarding safety and economic aspects.
RELCON includes three parts in the continued and structured Risk Management process: identifying, analysing and managing risks/problems. This process generate possibilities to improve our clients company profitability and reduce the level of risk exposure.
Risk Management Process:
Step 1. Identify risks – map out risks/problems by using qualitative/semi quantitative analyses, for example by feedback from experience, scenarios of damage, brain-storming, SWOT-analyses, etc.
Step 2. Analyse risks – identify and evaluate the risk potential in different solutions. Quantitative analyses are suitable when risks are significant – using for instance @RISK to model economic risks and RiskSpectrum for carrying out Probabilistic Safety Assessments (PSA) using fault trees and event trees. A quantitative analysis improves the map of risks/problems and gives the basis to optimise the use of resources and to manage risks.
Step 3. Manage
solutions are prioritised and strategies for handling risks/problems are worked out
with the help of the results obtained in step 1 and 2. Examples of risk
strategies – avoid the risk, accept it, move or prevent it.