The BowTie rule is a set of guidelines for developing risk management plans. It is based on the concept of a bowtie diagram, which is used to visualize the relationships between different elements of a system. The rule consists of four steps: 1) identify the top event, 2) identify the worst-case scenario, 3) develop mitigation strategies, and 4) develop response plans.
The first step in applying the BowTie rule is to identify the top event. This is the most serious event that could occur, and it typically has multiple consequences. The next step is to identify the worst-case scenario for each consequence. This helps to ensure that all potential risks are considered. Once the worst-case scenarios have been identified, mitigation strategies can be developed to reduce the likelihood of these events occurring. Finally, response plans must be developed in order to deal with the consequences if an event does occur.
The BowTie rule provides a simple yet effective framework for creating comprehensive risk management plans. By identifying potential hazards and developing response plans ahead of time, organizations can be better prepared to deal with emergencies when they do occur.