Risk Management

BakerRisk has assisted many companies in developing and implementing overall risk management systems as well as individual risk analysis procedures. A risk management system includes not only procedures for identifying and analyzing risks, but also protocols for supporting and making risk-based decisions. Risk management systems range from simple to complex, qualitative to quantitative, and subtle to overt.

BakerRisk has expertise in performing both qualitative and quantitative risk analyses that focus on issues related to onsite and offsite impact, plant damage, business interruption and environmental concerns. It should be noted that other risks of interest have been evaluated by BakerRisk including brand name, market share, etc. Classic QRA's consider "industrial" types of initiating events; however, intentional threats can also be included in terms of the event frequency and the impact on the facility. BakerRisk has significant experience and resources in estimating frequencies of various consequences. If risks are considered high, then recommendations would be offered to show how these risks can be mitigated to a more tolerable level.