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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