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Hazard identification. Is it a science or an art?

In risk management terms, forecasting the future relies on Hazard identification. Is it a science or an art? Please notice we are talking about hazard identification and not risk identification for a very specific reason. We want to avoid confusion and enable proper analysis. Others, following for example General Motors’ journey to establish a Risk Sensing function, take a short cut and try to identify risks. What can go wrong is a hazard. Hazards have consequences and the hazard-consequence couple is a…

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