Tag: controlling risk

Welding – Hot Work

What is hot work?

Working with ignition sources near flammable materials is referred to as “hot work.” Welding and cutting are examples of hot work. Fires are often the result of the “quick five minute” job in areas not intended for welding or cutting. Getting a hot work permit before performing hot work is just one of steps involved in a hot work management program that helps to reduce the risk of starting a fire by welding or cutting in areas where there are flammable or combustible materials.

via Welding – Hot Work : OSH Answers.

The Five Steps of Risk Management Leads To Lower Cost

There are five steps to risk management:

  • Identify
  • Analyze
  • Control
  • Finance
  • Measure

The most important step is “Identify” because you can’t Analyze, Control, Finance or Measure what you don’t know. Insurance is “NOT” risk management. Insurance is “FINANCING” risk. Managing risk 365 days a year vs. buying insurance 1 day a year is the key to lowering the total cost of risk (TCOR) for business.