The objective of Risk Assessment is to identify high-risk situations and determine prevention and mitigation measures to reduce the risks to an acceptable level.
In basic terms, Risk Assessment is a process of:
- Hazard Identification.
- Analysis of the probability of the harmful event occurring, giving an assessment of the frequency with which the identified scenario might be expected to occur.
- Analysis of the consequences of that identified event, giving an estimate of the likely harmful effects.
It should be noted that more than one scenario may be applicable to a given hazard .
You may also know when to carry out risk assessment. When to carry out a Risk Assessment
Risk Assessments are to be conducted whenever an activity which is:
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