BowTie Analysis (also known as Bow-Tie Analysis) is a risk analysis method initially carried out in a bow-tie structure based on the Tripod Beta Models. It is mainly applied to risk assessment, risk management, incident investigation and analysis, and risk audits. This method can better illustrate the status of specific risks, helping people understand the risk system and the prevention and control measures system.
In the BowTie analysis model, we take the top event as the core, conduct a forward analysis to identify the potential causes leading to its occurrence (Fault Tree Analysis), and a backward analysis to determine the possible subsequent events after the occurrence of the top event (Event Tree Analysis). Targeted barriers are then established for prevention and control in accordance with the Swiss Cheese Model.
The BowTie Risk Management System has been widely applied in high-risk industries such as petrochemicals and energy.
A large oil and gas enterprise built a risk model covering the entire business chain through this system, identifying more than 300 key risk points and optimizing over 150 control measures, which raised the coverage rate of high-priority risk management and control from 75% to 98%. A power enterprise used the system to conduct incident review and analysis, accurately locating the ineffective links of risk control in two equipment failures. After formulating targeted improvement measures, the incidence of similar failures dropped by 65%.
Featuring intuitive comprehensibility, precision and efficiency, and full-scenario adaptability, the system has become a core tool for enterprise risk management and control, helping to build a long-term risk prevention mechanism.