risk assessment

1
What is risk assessment?
2
Concept

• Risk assessment consists of an objective
  evaluation of risk in which assumptions and
  uncertainties are clearly considered and
  presented. Part of the difficulty in risk
  management is that both the quantities by which
  risk assessment is concerned potential loss and
  probability of occurrence can be very difficult
  to measure. The chance of error in measuring
  these two concepts is high. Risk with a large
  potential loss and a low probability of
  occurrence is often treated differently from one
  with a low potential loss and a high likelihood
  of occurrence. In theory, both are of near equal
  priority, but in practice it can be very
  difficult to manage when faced with the scarcity
  of resources, especially time, in which to
  conduct the risk management process

3
Assessment of risk

• At the strategic level policies are made
  specifying acceptable levels of risk, procedures
  to be followed within the organization,
  priorities and allocation of resources.At the
  systematic level, management involved with the
  project produce project level risk assessments
  with the assistance of the available expertise as
  part of the planning process, and set up systems
  to ensure that required actions to manage the
  assessed risk are in place. At the dynamic level,
  the personnel directly involved may be required
  to deal with unforeseen problems in real time.
  The tactical decisions made at this level should
  be reviewed after the operation to provide
  feedback on the effectiveness of both the planned
  procedures and decisions made in response to the
  contingency.
• The first step in risk assessment is to establish
  the context This restricts the range of hazards
  to be considered.
• This is followed by identification of visible and
  implied hazards that may threaten the project,
  and determining the qualitative nature of the
  potential adverse consequences of each hazard.
  Without a potential adverse consequence, there is
  no hazard.
• It is also necessary to identify the potential
  parties or assets which may be affected by the
  threat, and the potential consequences to them if
  the hazard is activated.

4
Dynamic risk assessment

• During emergency response the situation and
  hazards are often inherently less predictable
  than for planned activities. In general, if the
  situation and hazards are predictable, standard
  operating procedures should deal with them
  adequately, and in some emergencies this holds
  true and the prepared and trained responses are
  adequate to manage the situation. These
  situations are usually those that the operator
  can deal with without outside assistance, or with
  the assistance of a backup team who are prepared
  and available to step in at short notice.

5
Risk assessment in your work place

• As part of managing the health and safety of your
  business you must control the risks in your
  workplace. To do this you need to think about
  what might cause harm to people and decide
  whether you are taking reasonable steps to
  prevent that harm. This is known as risk
  assessment and it is something you are required
  by law to carry out. If you have fewer than five
  employees you don't have to write anything down.
• A risk assessment is not about creating huge
  amounts of paperwork , but rather about
  identifying sensible measures to control the
  risks in your workplace. You are probably already
  taking steps to protect your employees, but your
  risk assessment will help you decide whether you
   have covered all you need to.

6

• Think about how accidents and ill health could
  happen and concentrate on real risks those that
  are most likely and which will cause the most
  harm.
• For some risks, other regulations require
  particular control measures. Your assessment can
  help you identify where you need to look at
  certain risks and these particular control
  measures in more detail. These control measures
  do not have to be assessed separately but can be
  considered as part of, or an extension of, your
  overall risk assessment

7
Risk assessment in your work place

• Identify the hazards
• Decide who might be harmed and how
• Evaluate the risks and decide on precautions
• Record your significant findings
• Review your assessment and update if necessary