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Risk Assessments: What They Are, Why They’re Important

Risk assessment is an important management tool to ensure the health and safety of workers (and others). What many people may not realize is that they are actually a legal requirement for entrepreneurs. Read on to find out how to make a risk evaluation documentation or if you are not sure if that applies in your industry.

What is risk assessment?

The definition of risk assessment is a systematic process to identify hazards and to evaluate all risks related to the workplace. Adequate control measures are then implemented to eliminate or reduce them.

When completing a risk assessment, it is important to clearly define several keywords:

    The accident was an "unplanned event that led to a loss"

    Danger is "something that can be dangerous"

    Risk is "the likelihood and severity of a negative event (injury, illness, damage, loss) as a result of danger."

Additional training may be needed if you need to complete or re-evaluate your risk management procedures. Completing training such as our Level 2 Risk Assessment course ensures that the risk assessment is precise and sufficiently detailed.

The type of risk assessment required in each workplace must be proportional and in accordance with operational activities carried out. Special legal requirements apply in many industries. For example, in environments where hazardous substances are used, control over hazardous substances (COSHH) must be resolved.