Bow Tie definition

Bow Tie a tool that consists of the Risk Event in the center, a listing of Drivers on the left side that potentially lead to the Risk Event occurring, and a listing of Consequences on the right side that show the potential Outcomes if the Risk Event occurs. • Consequence (or Impact): the effect of the occurrence of a Risk Event. Consequences affect Attributes of a Cost-Benefit Approach. • Control: Currently established measure that is modifying Risk. • CoRE: estimated dollar value of the Consequences of a Risk Event.
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Bow Tie tool is a very useful means for communicating the knowledge about hazards that can lead to major incidents and the control measures undertaken to control the risks. Information in the Bow-Ties is shared via a series of learning sessions that focus on the Critical Control Measures and that can be designed to maximise the opportunities to learn.
Sample 1
Bow Tie. Emblems "The Heartbeat of America" (with or without Bow Tie Emblems) GM Official Licensed Products Emblem (as shown on Attachment A to this TWENTY FOURTH AMENDMENT) * It is understood and agreed between the parties that LICENSEE may also use Body Designs for the GRAND SPORT, COLLECTOR'S EDITION, and CORVETTE (through production vehicle model year 1997) on packaging and promotional materials only, with LICENSOR'S prior approval to Paragraph 9.6 of the AGREEMENT.
Sample 1

Examples of Bow Tie in a sentence

  • This program aims to reduce the following Potential Consequences of the right side of the Risk Bow Tie: serious injuries and/or fatalities (PC.1).

  • The left side of the Bow Tie illustrates drivers that lead to a risk event and the right side shows the potential consequences of a risk event.

  • A mapping of each Control/Mitigation to the element(s) of the Risk Bow Tie addressed is provided in Appendix A.

  • It is also known as the Bow Tie Nebula and catalogued as LEDA 3074547.

  • The Risk Bow Tie shown in Figure 1 below is a commonly-used tool for risk analysis.

  • Both of these stages were completed and released in time to be incorporated in a major Baan release.

  • Pursuant to the SA Decision,3 for each control and mitigation presented herein, SoCalGas has identified which element(s) of the Risk Bow Tie the mitigation addresses.

  • Bow Tie diagram is used to identify the critical or initiating events.

  • As discussed in Chapter RAMP-D, the Company calculated RSEs for certain mandated controls where the Company exercised discretion in meeting the mandate, or in cases where the Company exceeded the mandate as it did with this control.b. Elements of the Bow Tie AddressedSCG-8-C6 addresses several Drivers/Triggers and Potential Consequences as outlined above in Section I.

  • For sequences with eight to ten mutations Modeller did not reduce the observed bias (Fig.


More Definitions of Bow Tie

Bow Tie a tool that consists of the Risk Event in the center, a listing of Driversdrivers on the left side that potentially lead to the Risk Event occurring, and a listing of Consequences on the right side that show the potential Outcomesoutcomes if the Risk Event occurs. Consequence (or Impact): the effect of the occurrence of a Risk Event. Consequences affect Attributes of a Cost-Benefit Approach an MAVF. Control: Currently established measure that is modifying Risk. CoRE: estimated dollar value of the Consequences of a Risk Event. Cost-Benefit Approach: a decision-analysis tool for comparing the monetized Benefits of a program, or set of activities, against the costs of the program, or set of activities, to create a measurement of value. Cost-Benefit Ratio: calculated by dividing the dollar value of Mitigation Benefit by the Mitigation cost estimate. CPUC: California Public Utilities Commission. Driver: a factor that could influence the likelihood of occurrence of a Risk Event. A Driverdriver may include external events or characteristics inherent to the asset or system. Enterprise Risk Register (also referred to as “risk registry” or “ERR”): an inventory of enterprise risks at a snapshot in time that summarizes (for a utility’s management and/or stakeholders such as the CPUC) risks that a utility may face. The ERR is not intended to be static as risks are dynamic in nature. As such, the ERR must be refreshed on a regular basis and can reflect the changing nature of a risk; for example, risks that were consolidated together may be separated, new risks may be added, and the level of risks may change over time. Exposure: the measure that indicates the scope of the risk, e.g., miles of transmission pipeline, number of employees, miles of overhead distribution lines, etc. Exposure defines the context of the risk, i.e., specifies whether the risk is associated with the entire system, or focused on a part of it. Foundational Activities, Elements, or Programs: Initiatives that support or enable two or more Mitigation programs or two or more Risks but do not directly reduce the Consequences or reduce the Likelihood of safety Risk Events.
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