What are the steps in the risk assessment process?

The risk assessment process involves a series of steps to identify, analyze, and evaluate potential risks in order to develop appropriate risk management strategies. The first step is to identify the hazards or sources of risk, which may include physical, chemical, ergonomic, or psychological factors. Next, the level of exposure and potential consequences are assessed. This involves determining the likelihood of an event occurring and the severity of its impact on people, the environment, or assets. Once the risks are identified and evaluated, control measures are implemented to mitigate or eliminate them. These can include engineering controls, administrative measures, or the use of personal protective equipment. Finally, the risks are monitored and reviewed periodically to ensure that they remain under control and to make any necessary adjustments to the risk management strategies. Overall, the risk assessment process is a systematic approach that enables organizations to effectively manage and minimize potential risks to protect their stakeholders.

This mind map was published on 8 November 2023 and has been viewed 87 times.