Safety risk management is the process of identifying, analyzing, and reducing the risk of hazards in an organization. It's a formal process that involves assessing the risk, controlling the risk, and reviewing the controls.
Steps in safety risk management
Identify hazards
Assess the risks
Control the risks
Record findings
Review the controls
Risk management strategies
Risk avoidance: Identify strategies to avoid the risk
Risk reduction: Reduce the risk
Risk acceptance: Accept the risk
Risk transference: Transfer the risk to another party, such as through insurance or contracts
Risk management principles Identify the risk, Analyze the risk, and Manage the risk.
Risk management goals
Eliminate or mitigate hazards to an acceptable level
Determine the need for new or revised risk controls
Ensure that risks are identified, managed, and minimized
Risk definition
In occupational safety and health, risk is the likelihood that someone may be harmed if exposed to a hazard.
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