risk assessment

Main features

To begin examining the concept, it is important to pay attention to the terms that make it up. An evaluation is an estimate or assessment; A risk , meanwhile, is a contingency that could cause damage.

When a risk assessment is carried out, therefore, circumstances or factors potentially harmful to physical or material integrity are examined. Based on these assessments, measures can be taken to reduce the possibility of damage occurring and to mitigate its effects.

It is important to note that risk assessment is a systematic practice that aims to improve safety . It must be guided by risk management experts who have the technical and scientific knowledge to indicate how to act.

Another issue to consider is that, in many cases, risk assessment is mandatory to comply with legal provisions . However, there are supervisions and audits that go beyond regulatory compliance and have the purpose of mitigating possible serious consequences.

Types of risk assessment

As we already indicated, there are various types of risk assessment. If we think about safety at work, a specific or legally imposed evaluation is one mandated by particular regulations or standards. In these cases, the risks come from the equipment, facilities and/or materials used.

A general assessment , meanwhile, is a broad estimate of the hazards in the workplace. These procedures aim at the identification and assessment of threats, which are classified according to risk levels.

The evaluation of risks for which there are no specific laws is another classification of these processes. It is based on guides or technical guidelines that, for example, warn about the levels of exposure to a substance that should not be exceeded.

Other typologies of risk assessment are associated with the nature of the threat or the scope of its development. Of course, when a financial risk is evaluated based on an analysis of possible scenarios, other resources and methodologies come into play than if an identification of dangers linked to cybersecurity is carried out to estimate a technological risk . In turn, if a public health risk is examined through an environmental impact assessment , other issues will be observed and different techniques will be applied.

The step by step

Taking into account what has been mentioned about the variety of types of risk assessment and considering the multiple contexts where these actions can be executed, it is possible to list a series of steps that are generally followed in these processes:

1. Identification of risks : The initial step is, logically, to recognize the threats. These may be possible causes of workplace accidents, biological risks, natural disasters, etc.
2. Determination of possible damages and victims : It must be considered who may suffer injuries and what objects may be affected.
3. Risk assessment : The probability of occurrence and the possible severity of the effects must be measured.
4. Risk control : The application of measures to reduce the possibility of the threat occurring and to mitigate the consequences. In addition to addressing risk mitigation, contingency plans are required for emergency situations.
5. Documentation of the evaluation : It is very important to record what was detected and the decisions that were adopted based on the work that was carried out.
6. Review and update : A periodic review of the assessment must be carried out to determine if new threats have emerged and if control measures have been well implemented. When necessary, an update of the procedures must be carried out.