ABSTRACT
Physical risk management consists of identifying the hazards, assessing the risks, evaluating the risks, and introducing the necessary controls to reduce the probability of these risks manifesting in loss. Taking these two factors into consideration gives one an immediate risk analysis of the particular hazard and assists in prioritizing its rectification. Fault Tree Analysis is deductive as it deduces the events and sub-events that lead to the main event using the same method as Event Tree Analysis. Normally, a safety survey is the first step in introducing a long-range safety and health management system, and would highlight the most prominent deficiencies in the physical conditions and control systems. Many methods of risk analysis only consider the potential severity and probability of occurrence. The purpose of the risk analysis is to reduce the uncertainty of a potential accident situation and to provide a framework to look at all eventualities.
