The BowTie Risk Management approach is the process of looking at the case where Multiple Threats can cause a specific Undesirable Event (note the Many to one How do we implement our Safety Case
On the right of the BowTie diagram are one or more Consequences. For example Consumer Illness or Death, Damage to the Manufacturers reputation and fines or imprisonment. This shows that that an Undesirable Event may result in one or more Consequences. This one to many relationship between the Undesirable Event and the Consequences gives the shape of the right hand side of the BowTie diagram.
Between the Undesirable Event and the Consequences are the Recovery Measues. These are the methods of minimising the impact of the undesirable event and in my example may include Product Recall, Hostpial Treatment and Mandatory notification to the relevant Authorities for assistance.
Thus the BowTie approach takes account of both Threats and Consequences as well as the Control Measures taken to prevent the Undesirable event as well as ways to minimise the Consequences in the form of Recovery Measures.
In this way the BowTie approach leads to a more holistic approach to Risk Management instead of focusing only in prevention it also takes into account minimisation of consequences as well as other measures to regain control