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4 Steps Guide to Risk Management

There are no fixed rules on how a risk assessment should be carried out, but there are a few general principles that should be followed.<br><br>Four steps to risk assessment can be followed to ensure that your risk assessment is carried out correctly, these four steps are:

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4 Steps Guide to Risk Management

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  1. 4 Steps Guide To Risk Management https://sustainability.net.au

  2. Risk Management is basically examining what can cause harm and whether or not you have taken enough precautions. It is an important element in health and safety management. It includes determining the risk and the measures required to deal with it. A Risk Management strategy will protect your people as well as business. These strategies will allow a suitable and sufficient risk management within your own organization.

  3. Identify the Hazard First you need to know the difference between a ‘hazard’ and ‘risk’. A hazard is ‘something with the potential to cause harm’ and a risk is ‘the likelihood of that potential harm being realized’. Hazards can be identified by closely monitoring the workplace, walking around and asking the employees.

  4. Identify who might be harmed and how Once the hazards are identified, next step is to understand that who might be harmed and how. Prepare a list of people working in and around the hazard prone area and build strategies accordingly.

  5. Decide on control measures After the above two steps i.e. identify the hazard and identifying who might be harmed and how, next is to protect your people from harm. Try to completely remove the hazard or at least lower the risk level so that injury is unlikely.

  6. Review & Update Strategy Once your strategies are in place and you are ready for any hazard, do not forget to review it one last time. Revision gives you much more than you know. Ask 2 3 people to review this strategy and give their view points. You should also not forget that with time workplace might not change but hazards may. So remember to review and update the strategy when required

  7. The outcomes might not be in your control but the effect or the harm from the outcomes is certainly in your control. Protecting your people from any hazard is risk should be your topmost priority. Contact Sustainability to know how we can help you design a perfect risk management strategy. https://sustainability.net.au

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