Climate & Environment
Risk Assessment
The systematic process of identifying hazards and analysing the likelihood and severity of resulting harm — the analytical core of risk management.
Definition
Risk assessment is the systematic process of identifying hazards, analysing the likelihood and severity of harm they may cause, and evaluating the significance of the resulting risks to support decisions. It spans workplace safety (hazard identification and evaluation under OHS law), environmental assessment (ecological and human health risk assessment), and enterprise risk management (assessing strategic, financial, climate and compliance risks).
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