What is Bowtie Analysis?
Bowtie Analysis is an advanced risk evaluation tool that enables users to visually map risks and illustrate the pathways between their causes and potential impacts. In addition to mapping your risk scenarios, Bowtie Analysis also allows you to assign controls to individual causal or consequential pathways, and apply key risk indicators (KRIs) to help track the performance of risk controls. It is a graphical tool that helps users better organize and prioritize risks, and facilitate a more comprehensive understanding of the risks facing your business.
Why Perform Bowtie Analysis?
As EHS professionals, it’s our job to anticipate and manage all potential workplace EHS risks in order to ensure compliance, protect workers and promote the health of the organization. Bowtie Analysis allows us to document and prioritize the full spectrum of workplace EHS risks, visualize the relationships between the causes and impacts of those risks, and develop and monitor the controls necessary to manage them. Benefits of applying Bowtie Analysis include:
- Enhance visualization of risks and associated controls
- Improve communication of risk and risk management activities to stakeholders
- Centralize planning and coordination of risk management activities
- Perform and document more comprehensive root cause analyses
- Monitor effectiveness of risk controls and risk management activities
How VelocityEHS Can Help
As part of our broader range of Risk Management solutions, VelocityEHS Bowtie Analysis is a powerful and versatile software system that allows users to quickly and easily create, modify and distribute risk bowties across your entire enterprise. Users can build and manage risk bowties within our flexible and intuitive graphical user interface (GUI) that makes it easy to create, rearrange and update bowties to reflect your changing organizational risks. Bowtie data can then be instantly analyzed and summarized through a variety of built-in reports. Our customers consistently report that using VelocityEHS Bowtie Analysis has helped them achieve dramatic improvements to workplace productivity, knowledge sharing and risk management program performance.
Bowtie Analysis is part of our broad range of Risk Management solutions. To see the full set of features, click here.
|Graphically construct and modify risk bowties within a flexible and intuitive bowtie editor
|Develop and assign targeted controls for individual sources of risk
|Set-up and track KRIs for individual risk controls
|Set risk ratings manually, or calculate dynamically based on causes, consequences, and controls
|Quickly analyze and distribute bowtie data with powerful built-in reporting functionality|