Risk Assessments

What are Risk Assessments all about?

Broadly speaking, a risk assessment is the combined effort of:

1. identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis); and
2. making judgments "on the tolerability of the risk on the basis of a risk analysis" while considering influencing factors (i.e. risk evaluation).

Put in simpler terms, a risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences.

As an employer, you're required by law to protect your employees, and others, from harm.

Under the Management of Health and Safety at Work Regulations 1999, the minimum you must do is:

• identify what could cause injury or illness in your business (hazards)
• decide how likely it is that someone could be harmed and how seriously (the risk)
• take action to eliminate the hazard, or if this isn't possible, control the risk

Assessing risk is just one part of the overall process used to control risks in your workplace.

For most small, low-risk businesses the steps you need to take are straightforward and are explained in these pages.