In Risk Management, what is the second step?

The second step in Risk Management is to assess hazards. This process follows the initial step of identifying hazards, which involves recognizing and listing any potential risks that could affect safety or operations. Once hazards have been identified, the next logical move is to assess them. This means evaluating the likelihood of each hazard occurring and the potential consequences if it were to happen.

Assessing hazards helps prioritize which risks need immediate attention and informs the development of appropriate controls or safety measures. By understanding the severity and probability of risks, organizations can effectively allocate resources and design strategies to mitigate those risks effectively.

In contrast, the development of controls comes after hazards have been assessed; it is about implementing strategies based on the assessment outcomes. Identifying hazards is the first step, and without that, assessment cannot occur. Supervision is an ongoing process that may relate to managing risks but does not fit into the risk assessment's sequential steps.