What is the goal of risk assessment?

What is the goal of risk assessment?

The aim of the risk assessment process is to evaluate hazards, then remove that hazard or minimize the level of its risk by adding control measures, as necessary. By doing so, you have created a safer and healthier workplace.

The goal is to try to answer the following questions:

(a) What can happen and under what circumstances?
(b) What are the possible consequences?
(c) How likely are the possible consequences to occur?
(d) Is the risk controlled effectively, or is further action required?