ASA Risk Management Handbook

chapter one defining elements of risk management introduction risk management a formalized way of dealing with hazards is the logical process of weighing the potential costs of risks against the possible benefits of allowing those risks to stand uncontrolled in order to better understand risk management the terms hazard and risk need to be understood hazard defining hazard by definition a hazard is a present condition event object or circumstance that could lead to or contribute to an unplanned or undesired event such as an accident it is a source of danger four common aviation hazards are one a nick in the propeller blade two improper refueling of an aircraft three pilot fatigue four use of unapproved hardware on aircraft recognizing the hazard recognizing hazards is critical to beginning the risk management process sometimes one should look past the immediate condition and project the