Risk Management using the Bow-Tie Method

BowTie Risk Management has its roots in the chemical industry, but was use used extensively by Royal Dutch/Shell in the aftermath of the Piper Alpha oil rig disaster in July 1988. The Bow-tie Method can be used to visualise the impacts of a risk or hazard, its causes and consequences which can then be managed by implementing preventative controls against the causes_ and preparedness or recovery controls to mitigate the consequences. This iThoughts map can be used in a team session with those affected by and responsible for dealing with the risk. A step-by-step process is explained on the map, which can then be used for on-going risk management.