The risk management approaches used in the maritime setting may be geared to reducing the severity of the consequences, the probability of the mishap s occurrence or both. Increased training to improve crew competency could reduce the likelihood of a mishap. The keys to successful risk management tools are that they be effective, specific to the hazards that create the risk and that they be relatively easy to implement. This will increase the likelihood of successfully mitigating the risk. One other aspect of the risk management issue to be considered is the risk sensitivity .
Sensitivity addresses the ability of the risk management approaches to affect the risk.
The sensitivity of the risk may be considered as either an advantage or a constraining force on risk management depending on how it affects the risk management approach. For maximum impact, risk management efforts should be directed toward those items driving risk, which are sensitive to intervention. An example is the risk related to bad weather. While risk related to weather hazards may be controlled through better forecasting, planning and preparation, the weather itself is not sensitive to control. The relationship of consequence, probability and sensitivity as they are related to risk are illustrated in the figure titled Risk Management Factors.