Risk Tolerance Pt. 2: Safety Topic - October 9, 2023
Risk tolerance can be reduced when the cost of non-compliance to a standard is increased.
Safety-Topics_Blog/Risk-Tolerance-Pt-2-Safety-Topic---October-9-2023.aspx
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Risk Tolerance Pt. 1: Safety Brief - June 6, 2022
We all understand risk tolerance when it comes to investments and gambling, it’s on how much risk we decide to take whether we invest in that stock or choose to save our money under our mattress at home. The same applies to personal safety; it’s on how much that person feels they are at risk and what they are willing to do by the choices we make.
Safety-Topics_Blog/Risk-Tolerance-Pt-1-Safety-Brief---June-6-2022.aspx
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Risk Tolerance Pt 2: Safety Topics - May 2021 - Week 4
Risk tolerance can be reduced when the cost of non-compliance to a standard is increased. The reverse is also a factor.
- If the cost of compliance is high then more risk might be accepted and it could increase the cost of compliance on critical tasks.
- Be selective and only apply this where the standard can always be applied.
- Decrease the cost of compliance by removing barriers, cost or effort that prevent conformance to a standard.
- Increase the reward for compliance by incentives that can be used as positive motivator for compliance.
Safety-Topics_Blog/Risk-Tolerance-Pt-2-Safety-Topics---May-2021---Week-4.aspx
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Risk Tolerance Pt 1: Safety Topics - May 2021 - Week 3
We all understand risk tolerance when it comes to investments and gambling, it’s on how much risk we decide to take whether we invest in that stock or choose to save our money under our mattress at home. The same applies to personal safety; it’s on how much that person feels they are at risk and what they are willing to do by the choices we make.
Safety-Topics_Blog/Risk-Tolerance-Pt-1-Safety-Topics---May-2021---Week-3.aspx
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