Monday, January 30, 2012

The 10000 unsafe acts or conditions can lead to 1000 hazardous occurrences. This 1000 hazardous occurrences can lead to 100 minor injuries which may lead to 10 serious accidents and if not addressed, avoided or mitigated, it will lead to 1 death.

Do we need to have 1 death in our organization before we act safely?

Bulk carrier ran aground

On 19th January, 2012, Bulker “Global Legacy” operated by NYK Global Bulk Corporation which is subsidiary of NYK Line stranded at Pohang, Korea. She has anchored at Pohang waiting for cargo.
She dragged and hit break water due to strong wind. After hitting break water, she stranded at about 100meter away from shore. As her fuel tank was damaged, we are collecting the in formations as to its quantity. We are managing situation coordinating with local authority.

Saturday, January 28, 2012

Risk Management

The entire process of identifying, evaluating, controlling and reviewing risks, to make sure that the organisation is exposed to only those risks that it needs to take to achieve its primary objectives, is known as 'risk management.'

Risk management is a proactive process, not reactive.

Risk cannot be eliminated. However, it can be:
  • Transferred to another party, who is willing to take risk, say by buying an insurance policy or entering into a forward contract;
  • Reduced, by having good internal controls;
  • Avoided, by not entering into risky businesses;
  • Retained, to either avoid the cost of trying to reduce risk or in anticipation of higher profits by taking on more risk, and;
  • Shared, by following a middle path between retaining and transferring risk.


1. comparison against risk minimization measures
2. checklists
3. group process techniques
4. analysis of the project assumptions
5. analysis of areas uncertainty
6. analysis of the reasons why decisions have been made to ensure that these remains valid
Risk Management is considered a vital aspect of a business world, it is because success of the business depends upon successfully identifying the risks and finding the best strategies to overcome these risks.

Wednesday, January 25, 2012