The bow-tie analysis is a visual method for documenting andevaluating risk scenarios, which gets its name from the characteristic two-partpresentation reminiscent of a bow tie. This technique combines elements offault tree and event tree analysis and is particularly suitable for riskidentification, assessment and communication.
Structure and implementation
Central component: The risk scenario (top event) is placedin the middle of the diagram, which describes the loss of control over adesired state.
Left side (fault tree):
- Listing of possible causes (threats) for the risk scenario
- Identification of preventive barriers to prevent the top event
Right side (event tree):
- Presentation of potential consequences of the top event
- Definition of reactive barriers to mitigate the effects
Barriers: These are shownas graphical interruptions on the connecting lines between causes, top eventand consequences.
Areas of application
- Risk analysis in variousindustries (e.g. oil and gas industry, banking sector)
- Hazard assessment inoccupational safety
- Support for decision-making inrisk management
- Analysis of high-risk scenariosor events
Advantages
- Clear and intuitivevisualisation of complex risk relationships
- Promotion of structuredthinking in risk analysis
- Effective communication toolfor stakeholders
- Flexibility in application(qualitative and quantitative)
- Supports identification andoptimisation of control measures
Limitations
- Limited presentation optionsfor very complex risk situations
- Static snapshot that requiresregular updates
- Possible false sense ofsecurity due to overestimation of barriers
- Time-consuming to create fordetailed analysis
The Bow-Tie analysis is a valuable risk management tool thatenables a comprehensive view of risk scenarios through its visual strength andstructured approach. It supports companies in systematically identifying andevaluating potential hazards and developing appropriate prevention andmitigation measures.
