The Use of “Bow Tie” Analysis to Risk Identification in Organization

Abstract The article presents the use of “bow tie” analysis to identify risk in an organization. Risk identification is one of the initial stages of the risk management process and can be carried out using a variety of methods or techniques. The choice of method depends on the specifics of the organization, available resources, as well as spatiotemporal criteria. The paper presents practical examples of the use of “bow tie” analysis as an alternative to more popular methods, such as: “what if?” scenario analysis, fault tree, or Haddon matrix (less popular, but detailed). The versatility of the “bow tie” analysis allows it to be implemented in organizations with various business profiles. The aim of the study was to demonstrate that the “bow tie” method effectively exhausts the issue of risk identification (especially for complex risks), and thus allows for the implementation of subsequent stages of the risk management process. The potential of this method allows for continuous improvement of the organization’s processes and minimization of the risks that occur. Thus, it fits into the idea of broadly understood security, which is topical in the current socio-economic conditions of the organization’s environment.