Technological risk - any kind of technological uncertainty associated with dynamic and variable process or environment. The technological risk is very extensive in terms of potential effects. It contains many elements that may be included in these effects and it is influenced by growing importance of technology in today's business.
In order to reduce this risk to a minimum, it is necessary to take various safeguards aimed at minimizing the likelihood of the occurrence of the problem or minimize its effects. Usually it applies to such action, which will enable simultaneous minimizing effects and occurrence of a problem.
Main sources of technological risk
Source of risk in industrial processes are following:
- emission of hazardous materials.
Estimation of technological risk
To estimate the technological risk managers can use both qualitative (descriptive) and quantitative (empirical) methods.
Qualitative methods include
- risk matrix
- preliminary hazard analysis
These hazards can be divided into three groups:
- external threat - they result from exceptionally adverse weather conditions, the proximity of routes,
- internal threat - are the effects of technological process,
- others - various intentional action (for example,. sabotage),
- what-if analysis
- safety audit review
Quantitative methods used in evaluating technological risk
- FTA - failure tree analysis
- ETA - event tree analysis
- CCA - cause consequence analysis
- HRA - human reliability analysis
- Hartmann, G. C., & Myers, M. B. (2003). Technical risk, product specifications, and market risk. Branscomb, Lewis M., and Philip Auerswald, Taking Technical Risks: How Innovators, Executives, and Investors Manage High Tech Risks, 30-43.