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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Process Hazard Analysis?
What is Process Hazard Analysis?  

What is Process Hazard Analysis?


Process Hazard Analysis is a systematic examination and assessment of data and facts about some process to uncover and understand risks existing in the process environment. Its purpose is to identify and classify exposure points according to their estimated degree of hazard.

Process hazard analysis provides a foundation for process problem solving and decision making. By analyzing risks and uncertainties surrounding a process, decision makers can identify what factors have a negative impact on the process and what solutions can used to eliminate this impact and reach process improvements.

Hazard analysis includes the following steps:

  1. Identify negative external and internal factors (conditions, events, or scenarios) affecting the process
  2. Determine cause-and-effect relationships between probable happenings
  3. Evaluate possible process outcomes under different assumptions and identify the most probable outcome
  4. Use qualitative and quantitative techniques to reduce uncertainty of the most probable outcome
  5. Develop a hazard response plan that removes the factors and determine a course of action for producing the most probable outcome.

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