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The Bowtie diagram contains several components: top events, threats (causes), consequences, barriers, and escalation factors. It is fundamentally composed of a fault tree and an event tree [33][34] [35] .
Bow tie analysis: A how to guide | Page 3 Risk assessments are intended to answer four simple questions: what can go wrong (hazards); what bad effects could occur (adverse events); how likely the hazard is to lead to harm (risk); and whether there is a need for actions (controls or barriers).
The Bowtie method is most often used for the analysis Major Hazard Scenarios in which the consequence spectrum is so bad that the keeping control over these Hazards is of major importance, regardless of the actual probability of the consequences.
External: HAZOPs tend to concentrate on what is happening inside the process, whereas Bowties allow for consideration of external events as well e.g. external impact, weather, human error etc.
Step 1: Hazard Identification. Step 2: Dose Response. Step 3: Exposure Assessment. Step 4: Risk Characterization.
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Description. The bow tie risk management methodology is a diagrammatic illustration of the hazard, the undesirable event, the trigger events/threats and potential outcomes, and the risk controls put in place to minimise the risk.
Step One The Event: Identify your hazard and the risk event(s) in the middle. Step Two Left Nodes: Work backward to pinpoint root causes or threats that could lead to that hazard/event. Step Three Right Nodes: Recognize the potential impacts and consequences of the hazard and outline any possible damages.
A Bowtie diagram does two things. First of all, a Bowtie gives a visual summary of all plausible accident scenarios that could exist around a certain Hazard. Second, by identifying control measures the Bowtie displays what a company does to control those scenarios.

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