Risk Assessment

The risk assessment process – an essential part of the HSE management system – is a systematic way of determining risk levels then ranking risks in order that they can be adequately managed. The process decides whether satisfactory safety controls are available or whether additional safeguards are required to give assurance to stakeholders.

The risk assessment process consists of 4 basic steps:

1. hazard identification

2. frequency assessment

3. consequence assessment

5. risk evaluation