Risk assessment: What steps should be taken to asses the risk

Risk assessment is a step that makes the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat. A Risk Assessment is a systematic method of looking at work activities, considering what could go wrong, and deciding on suitable control measures to prevent loss.

Steps to asses the risk may include:

  • Identify the hazards and risk
  • Decide who might be harmed and how
  • Evaluate the risks and decide on precautions
  • Record your findings and implement them
  • Review your assessment and update if necessary
  • Taking action
  • Monitoring and reviewing
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