What is a risk assessment?
Risk assessment is a term used to describe the overall process or method where you:
- Identify hazards and risk factors that have the potential to cause harm (hazard identification).
- Analyze and evaluate the risk associated with that hazard (risk analysis, and risk evaluation).
- Determine appropriate ways to eliminate the hazard, or control the risk when the hazard cannot be eliminated (risk control).
A risk assessment is a thorough look at your workplace to identify those things, situations, processes, etc. that may cause harm, particularly to people. After identification is made, you analyze and evaluate how likely and severe the risk is. When this determination is made, you can next, decide what measures should be in place to effectively eliminate or control the harm from happening.
Definitions:
Risk assessment – the overall process of hazard identification, risk analysis, and risk evaluation.
Hazard identification – the process of finding, listing, and characterizing hazards.
Risk analysis – a process for comprehending the nature of hazards and determining the level of risk.
Notes:
(1) Risk analysis provides a basis for risk evaluation and decisions about risk control.
(2) Information can include current and historical data, theoretical analysis, informed opinions, and the concerns of stakeholders.
(3) Risk analysis includes risk estimation.
Risk evaluation – the process of comparing an estimated risk against given risk criteria to determine the significance of the risk.
Risk control – actions implementing risk evaluation decisions.
Note: Risk control can involve monitoring, re-evaluation, and compliance with decisions.