Risk assesment

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Definition

An analysis of risks to ascertain the magnitude of potential loss and the probability that loss will occur.

Applications

A risk assessment carried out in the work-place usually consists of the following steps:

  • Identification of potential hazards which could cause harm such as chemicals, electricity, working on ladders, etc.
  • Determination of who might be harmed by the hazards identified (employees, cleaners, visitors, members of the public).
  • Evaluation of risks to decide whether existing precautions are adequate or whether additional measures are required.
  • Record of risk assessment findings.
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