YSM 114 - Risk Management 4 Steps
Risk Management consists of 4 steps which, when done in sequence, will lead to informed decisions and action on how best to eliminate or control risks that have been identified. In simple terms these steps are;
Step 1: Identify all hazards in your workplace
Look for anything in the workplace that could harm or injure someone (a hazard).
Step 2: Do a risk assessment of each hazard you find
Work out how likely it is that someone will be harmed by the hazard and how serious the illness or injury might be. (Risk is a measure of how likely it is that an injury or illness will result from exposure to a hazard).
Step 3: Eliminate or control the risk
Work out what is the best way to remove or control the risk. (If it is not possible to eliminate a hazard then do whatever is necessary to minimise the risk to the lowest level that is reasonably practicable
Step 4: Review controls
Check the results of the actions you took to eliminate or control the risks, and take further improvement actions where needed.
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