Risk assessment is a step in a risk management procedure. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat (also called hazard). Quantitative risk assessment requires calculations of two components of risk: R, the magnitude of the potential loss L, and the probability p, that the loss will occur.
Ref. http://en.wikipedia.org/wiki/Risk_assessment Access date: 23/01/11
How to assess the risks in your workplace
Follow the five steps in our leaflet: Five steps to risk assessment .
1.Identify the hazards
2.Decide who might be harmed and how
3.Evaluate the risks and decide on precaution
4.Record your findings and implement them
5.Review your assessment and update if necessary
Don’t overcomplicate the process. In many organisations, the risks are well known and the necessary control measures are easy to apply. You probably already know whether, for example, you have employees who move heavy loads and so could harm their backs, or where people are most likely to slip or trip. If so, check that you have taken reasonable precautions to avoid injury.
If you run a small organisation and you are confident you understand what’s involved, you can do the assessment yourself. You don’t have to be a health and safety expert.
Ref. Access date: 24/01/11