Using the DSM for your risk register or hazard log ensures that each entity is recorded exactly once. You can present information in a mixture of tables, diagrams and reports without risk of inconsistency, and without the costs of maintaining and checking multiple copies of the same thing.
A hazard log is a continually updated record of the hazards, accident sequences and accidents associated with a system. It includes information documenting risk management for each hazard and accident.
Every hazard log has an implicit or explicit model of how accidents occur. Most safety engineering is based on “chain of events” models; hazard identification and mitigation is done by tracing forwards from possible causes (as in FMEA) or backwards from possible accidents (as in HAZOP). Once a causal chain is identified it is disrupted by inserting “controls”, also known as “barriers”, which are intended to either prevent the accident or to reduce its severity. In the DSM this is modelled using Bow Tie diagrams.
A risk register is a tool in risk and project management. It is used to identify potential risks in a project or an organization, sometimes to fulfill regulatory compliance, but mostly to stay on top of potential issues that can derail intended outcomes.
Traditional hazard logs and risk registers are simple tables. However this leads to duplicated information, as information about a control, accident or causal event must be repeated for each hazard that it relates to. Duplication leads to inconsistency, especially when the risk register or hazard log has to be updated by different people over a long period of time.