Past experience is extracting data that is collected from previous records that have been documented and using it to help identify further risks.

By looking at what has occurred in the past we can expect that this is a good indication as to what could occur again in the future if nothing has changed. Therefore the use of past experience and knowledge can help to identify threats and opportunities that can be altered to reflect positively on business activity ’second time round’.

Examples of useful documented information that could be used are:

• Accident Report sheets
• Past successful/failed business plans
• Safety manuals
• Risk Management plans from other firms

By using this data we can not only identify relevant risks, but we can react to these uncertainties by assessing the previous outcomes and acting differently and more effectively in the same scenario if it reoccurs.