Risk assessment is a process used to identify potential hazards and analyze what could happen if a disaster or hazard occurs. It is a function within occupational safety and health (OSH) risk management that focuses on identifying potential hazards. The goal of risk assessment is to identify hazards, then analyze and evaluate the risks. The process of risk assessment serves many purposes for an organization, including reducing operational risks, improving safety performance, and achieving objectives.

The risk assessment process involves several steps, including hazard identification, risk analysis, and risk evaluation. Hazard identification is the process of finding, listing, and characterizing hazards. Risk analysis is a process for comprehending the nature of hazards and determining the level of risk. Risk evaluation calls on safety professionals to examine the results of the risk analysis and compare them to established risk criteria to determine where additional controls may be required and what those controls might be.

Safety professionals conducting a risk assessment must first understand how to reduce operational risks, improve safety performance, and achieve objectives. They must also understand common risk assessment techniques, including reducing operational risks, improving safety performance, and achieving objectives. Safety professionals must communicate the risks identified, analyzed, and evaluated during the assessment to all involved so that everyone has a comprehensive understanding of the existing risks and how they can best be prevented or mitigated to achieve.