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• 

  Annus uddin Khan January 6, 2011 18:23

  Dear All

  Thank you so much for your time and valuable comments:

  
  Can you pls expalin
  1- Safety statistics
  2- Safety planning control

  Looking forward for early and detailed response

  Thanks & Regards,

  Annus
• 

  Mariano Magro January 6, 2011 14:49

  
  
  Brilliant explanation, thanks.
• 

  Marcel Medina December 31, 2010 14:27

  thanks for your explanation !
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  Jelena Vucinic December 31, 2010 14:07

  Hi Dimitar,

   

  I agree with You if the objective of process is for example  that payment is delayed just one month ; but if objective is   for example collection of receivables, then blocking users who didn't pay last bill is not elimination because we already have one outstanding bill; in that case elimination is contracting prepaid as payment method.

   

  Happy New Year!

  Marcel Medina said:

  I guess elimination is in case you do not serve that think which implies risk, while substitution means that, as in your example, introduce new or different thing.

   

  elimination: users who didn't pay last bill. You can block them.

  substitution: users who didn't pay last bill. You can offer them another payment method (prepaid, for example)

   

  I hope this is helpful for you.
• 

  Marcel Medina December 30, 2010 13:28

  I guess elimination is in case you do not serve that think which implies risk, while substitution means that, as in your example, introduce new or different thing.

   

  elimination: users who didn't pay last bill. You can block them.

  substitution: users who didn't pay last bill. You can offer them another payment method (prepaid, for example)

   

  I hope this is helpful for you.
• 

  Jelena Vucinic December 28, 2010 11:10

  I think that we firstly have to see our process and objective of our process; Then we need to indentificate risks, assess risk and mitigate in order to achieve the objective of our process. If we remove source of one type of risk we need to assess how that removing affect achieving our objective and if that eliminating risks regarding our objective, i think that is then elimination. But, if that removing the source of risk causes a new type of risk regarding our objective, than we talk about substitution.

  Thanks
• 

  Tiago Lopes December 23, 2010 19:07

  Risk responses:

  • Avoid
  • Share
  • Accept
  • Mitigate

  Risk is not eliminated. Mitigate or avoided is possibly what you are looking for.

  Risk substitution may be seen as a form of mitigation.

   

  Risk avoidance: do not enter a new market segment

  Risk mitigation: implement security cameras

  Risk Sharing: taking insurances
• 

  Dimitar Zayakov December 23, 2010 8:51

  
  
  mohamed badr said:
  

  Hi Dimitar ,
  the method of risk treatment either risk elimination or risk subsititution or what ever the method, is a matter of cost benefit analysis, which result in a decission of what is the cost of that risk control, then you can decide which method of risk control is better to do.
  regards

  Hi Mohamed,

  yes, this is the point, but not only one. Because the cost of the method or of the risk is just one of the parameters of the assessment, you know. My point is that it is one of the main parameters and some times the important one. But in some cases the cost is not the determination factor for taking decision.  

  Regards
• 

  mohamed badr December 23, 2010 0:47

  Hi Dimitar ,
  the method of risk treatment either risk elimination or risk subsititution or what ever the method, is a matter of cost benefit analysis, which result in a decission of what is the cost of that risk control, then you can decide which method of risk control is better to do.
  regards
• 

  Roy Jensen December 22, 2010 16:24

  The question is determined by your focus either on the institution "eliminating" or "substitututing" the risk. For the institution, it may view it as eliminating the risk, but it may really only be substituting it. Without adequately evealuating the players involved and the method of elimination (i.e., insurance), the institution may think its eliminating the risk when, in fact, its just a substitution. Just as important, the substitution may be as risky as the original risk.

   

  On a more global/market basis, its not elimination. It's substitution. The bump on the balloon has just been moved around at best. In fact, as we have seen in the last few years, someone was actually making the risk balloon bigger, but no one noticed (or didn't want to notice).

   

  Roy Jensen