I can't lie to you. I have been turning myself inside out trying to get a handle on risk evaluation in the aviation safety sphere for close to five years now and I still don't feel any closer to an answer. And I say "an" answer and not "the" answer. Since you are always assessing risk in terms of your objectives, there can and will be multiple approaches to assessing the risk of the same scenario depending on whether you are considering your safety, financial or legal objectives.
As a follow-on to my first post on the Bow-Tie risk assessment method, I thought I'd concentrate on controls (or barriers or whatever else you would like to call them). This is, after all, where all the action happens. Risk controls are how we spend most of our time - they are the practical aspect of managing risk.
I've been doing a lot of pondering on the Bow-Tie method of risk assessment for a project at work. Bow-Tie is a tool used by many, especially in the oil & gas industry, to create a picture of risk surrounding a central event. It's got a few positives and a few negatives but these can be overcome if you understand the limitations of the model being used.