The concept of risk – a threat and opportunity
author:
JANUSZ R. RAK, JAKUB ŻYWIEC
ORCID ID:
0000-0001-7713-5841, 0000-0002-0823-4229
No:
8/2020 Instal p. 33-36
DOI:
10.36119/15.2020.8.6
Risk is associated with an action whose effect can be quantified using a measure of probability and effects. The
paper proposes a new approach to risk, using threats and opportunities. The Bow Tie method has been proposed
for threat and opportunity analysis. Strategies for responding to risks related to threats and opportunities were
indicated. The subject of the work refers to current risk management standards. Threats increase risk and
opportunities reduce it. The relationship between opportunities and threats can be determined by the risk difference.
A modified risk formula was presented and a new matrix was developed based on it. To show the advantages of the
method an application example is shown. The final fragment of the thesis concerns surveys on the perception of
threat and opportunity in a water supply company and its external environment. The content of the work confirms
the well-known paradigm that missed opportunities become threats.
Keywords:
About Authors:
Prof. dr hab. inż. Janusz R. Rak: https://orcid.org/ 0000-0001-7713-5841, mgr inż. Jakub Żywiec: https://orcid.org/ 0000-0002-0823-4229 – Politechnika Rzeszowska. Corresponding author: rakjan@prz.edu.pl