Risk Assessment

Risk Assessment

Risk assessment is a process of identifying, evaluating, and prioritizing potential risks or hazards that could negatively impact an organization, project, or individual. It involves analyzing the likelihood of the risk occurring and the potential consequences or impacts it could have.

Here are the key steps involved in conducting a risk assessment:

Identify hazards or risks.

Assess the likelihood.

Evaluate the impact.

Determine risk levels.

Prioritize risks.

Develop risk mitigation strategies.

Monitor and review.

Remember, risk assessment is an ongoing process that requires periodic reviews and updates to account for changes in the environment or circumstances. It is crucial to involve relevant stakeholders and subject matter experts to ensure a comprehensive and accurate assessment.