Discuss the four Ts of risk management.

service; ensure that all wording is your own.
Chapter 11: Risk Assessment and Risk Acceptance Questions 2, 5, 6, & 7
2. Discuss the four Ts of risk management
5. Define and discuss total risk exposure codes.
6. Discuss the relationship between TRECs and estimated dollar losses.
7. If an identified hazard is capable of causing 250 fatalities and causing $50 million in property damage and other losses, what is its severity code? If this hazard is associated with certain model of aircraft with an expected service life of 25 years, what is the exposure code, given that the fleet has 200 aircraft and the hazard is estimated to be likely to result in an accident no more than once per 5 million flying hours (assume 2,000 flying hours per aircraft annually)? What is the TREC? What would be the estimated losses associated with this hazard over the life of the system?

Chapter 12: Human Factors Questions 1, 2, & 5
1. Explain why human reliability is generally much lower and much more difficult to predict than hardware reliability.
2. Name two principal types of stress that affect human reliability.
5. Give two examples of natural behavior stereotypes and three examples of learned stereotypes.

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