The bow-tie method is a powerful tool for visualizing and managing risks. Named after its distinctive shape, this tool is used to analyze the causes and consequences of potential risks.
At the center of the bow-tie diagram is the “top event,” which represents the risk being analyzed. On the left side of the diagram are the potential causes of the top event, while on the right side are the potential consequences. The diagram also includes barriers or controls that can be put in place to prevent or mitigate the risk.
To create a bow-tie diagram identify the “top event” representing the risk being analyzed. This is placed at the center of the diagram.
Next, you identify the potential causes of the top event and place them on the left side of the diagram. These causes can be further broken down into sub-causes if necessary.
On the right side of the diagram, you identify the potential consequences of the top event. These can also be further broken down into sub-consequences if necessary.
Once you have identified the causes and consequences of the top event, you can then add barriers or controls to the diagram. These are measures that can be put in place to prevent or mitigate the risk. Barriers can be placed between the causes and the top event to prevent it from occurring, while controls can be placed between the top event and its consequences to mitigate their impact.
The bow-tie method works by providing a clear and concise visual representation of a risk and its potential impacts. This allows stakeholders to better understand the risk and identify areas where additional controls may be needed.
This tool also works nicely with desirable consequences.