risk assessment form methodology

Home / Resources / ISACA Journal / Issues / 2021 / Volume 2 / Risk Assessment and Analysis Methods

Risk assessment and analysis methods: qualitative and quantitative.

A risk assessment determines the likelihood, consequences and tolerances of possible incidents. “Risk assessment is an inherent part of a broader risk management strategy to introduce control measures to eliminate or reduce any potential risk- related consequences.” 1 The main purpose of risk assessment is to avoid negative consequences related to risk or to evaluate possible opportunities.

It is the combined effort of:

• “…[I]dentifying and analyzing possible future events that could adversely affect individuals, assets, processes and/or the environment (i.e.,risk analysis)”
• “…[M]aking judgments about managing and tolerating risk on the basis of a risk analysis while considering influencing factors (i.e., risk evaluation)” 2

Relationships between assets, processes, threats, vulnerabilities and other factors are analyzed in the risk assessment approach. There are many methods available, but quantitative and qualitative analysis are the most widely known and used classifications. In general, the methodology chosen at the beginning of the decision-making process should be able to produce a quantitative explanation about the impact of the risk and security issues along with the identification of risk and formation of a risk register. There should also be qualitative statements that explain the importance and suitability of controls and security measures to minimize these risk areas. 3

In general, the risk management life cycle includes seven main processes that support and complement each other ( figure 1 ):

• Determine the risk context and scope, then design the risk management strategy.
• Choose the responsible and related partners, identify the risk and prepare the risk registers.
• Perform qualitative risk analysis and select the risk that needs detailed analysis.
• Perform quantitative risk analysis on the selected risk.
• Plan the responses and determine controls for the risk that falls outside the risk appetite.
• Implement risk responses and chosen controls.
• Monitor risk improvements and residual risk.

Qualitative and Quantitative Risk Analysis Techniques

Different techniques can be used to evaluate and prioritize risk. Depending on how well the risk is known, and if it can be evaluated and prioritized in a timely manner, it may be possible to reduce the possible negative effects or increase the possible positive effects and take advantage of the opportunities. 4 “Quantitative risk analysis tries to assign objective numerical or measurable values” regardless of the components of the risk assessment and to the assessment of potential loss. Conversely, “a qualitative risk analysis is scenario-based.” 5

Qualitative Risk The purpose of qualitative risk analysis is to identify the risk that needs detail analysis and the necessary controls and actions based on the risk’s effect and impact on objectives. 6 In qualitative risk analysis, two simple methods are well known and easily applied to risk: 7

• Keep It Super Simple (KISS) —This method can be used on narrow-framed or small projects where unnecessary complexity should be avoided and the assessment can be made easily by teams that lack maturity in assessing risk. This one-dimensional technique involves rating risk on a basic scale, such as very high/high/medium/low/very.
• Probability/Impact —This method can be used on larger, more complex issues with multilateral teams that have experience with risk assessments. This two-dimensional technique is used to rate probability and impact. Probability is the likelihood that a risk will occur. The impact is the consequence or effect of the risk, normally associated with impact to schedule, cost, scope and quality. Rate probability and impact using a scale such as 1 to 10 or 1 to 5, where the risk score equals the probability multiplied by the impact.

Qualitative risk analysis can generally be performed on all business risk. The qualitative approach is used to quickly identify risk areas related to normal business functions. The evaluation can assess whether peoples’ concerns about their jobs are related to these risk areas. Then, the quantitative approach assists on relevant risk scenarios, to offer more detailed information for decision-making. 8 Before making critical decisions or completing complex tasks, quantitative risk analysis provides more objective information and accurate data than qualitative analysis. Although quantitative analysis is more objective, it should be noted that there is still an estimate or inference. Wise risk managers consider other factors in the decision-making process. 9

Although a qualitative risk analysis is the first choice in terms of ease of application, a quantitative risk analysis may be necessary. After qualitative analysis, quantitative analysis can also be applied. However, if qualitative analysis results are sufficient, there is no need to do a quantitative analysis of each risk.

Quantitative Risk A quantitative risk analysis is another analysis of high-priority and/or high-impact risk, where a numerical or quantitative rating is given to develop a probabilistic assessment of business-related issues. In addition, quantitative risk analysis for all projects or issues/processes operated with a project management approach has a more limited use, depending on the type of project, project risk and the availability of data to be used for quantitative analysis. 10

The purpose of a quantitative risk analysis is to translate the probability and impact of a risk into a measurable quantity. 11 A quantitative analysis: 12

• “Quantifies the possible outcomes for the business issues and assesses the probability of achieving specific business objectives”
• “Provides a quantitative approach to making decisions when there is uncertainty”
• “Creates realistic and achievable cost, schedule or scope targets”

Consider using quantitative risk analysis for: 13

• “Business situations that require schedule and budget control planning”
• “Large, complex issues/projects that require go/no go decisions”
• “Business processes or issues where upper management wants more detail about the probability of completing on schedule and within budget”

The advantages of using quantitative risk analysis include: 14

• Objectivity in the assessment
• Powerful selling tool to management
• Direct projection of cost/benefit
• Flexibility to meet the needs of specific situations
• Flexibility to fit the needs of specific industries
• Much less prone to arouse disagreements during management review
• Analysis is often derived from some irrefutable facts

THE MOST COMMON PROBLEM IN QUANTITATIVE ASSESSMENT IS THAT THERE IS NOT ENOUGH DATA TO BE ANALYZED.

To conduct a quantitative risk analysis on a business process or project, high-quality data, a definite business plan, a well-developed project model and a prioritized list of business/project risk are necessary. Quantitative risk assessment is based on realistic and measurable data to calculate the impact values that the risk will create with the probability of occurrence. This assessment focuses on mathematical and statistical bases and can “express the risk values in monetary terms, which makes its results useful outside the context of the assessment (loss of money is understandable for any business unit). 15  The most common problem in quantitative assessment is that there is not enough data to be analyzed. There also can be challenges in revealing the subject of the evaluation with numerical values or the number of relevant variables is too high. This makes risk analysis technically difficult.

There are several tools and techniques that can be used in quantitative risk analysis. Those tools and techniques include: 16

• Heuristic methods —Experience-based or expert- based techniques to estimate contingency
• Three-point estimate —A technique that uses the optimistic, most likely and pessimistic values to determine the best estimate
• Decision tree analysis —A diagram that shows the implications of choosing various alternatives
• Expected monetary value (EMV) —A method used to establish the contingency reserves for a project or business process budget and schedule
• Monte Carlo analysis —A technique that uses optimistic, most likely and pessimistic estimates to determine the business cost and project completion dates
• Sensitivity analysis —A technique used to determine the risk that has the greatest impact on a project or business process
• Fault tree analysis (FTA) and failure modes and effects analysis (FMEA) —The analysis of a structured diagram that identifies elements that can cause system failure

There are also some basic (target, estimated or calculated) values used in quantitative risk assessment. Single loss expectancy (SLE) represents the money or value expected to be lost if the incident occurs one time, and an annual rate of occurrence (ARO) is how many times in a one-year interval the incident is expected to occur. The annual loss expectancy (ALE) can be used to justify the cost of applying countermeasures to protect an asset or a process. That money/value is expected to be lost in one year considering SLE and ARO. This value can be calculated by multiplying the SLE with the ARO. 17 For quantitative risk assessment, this is the risk value. 18

USING BOTH APPROACHES CAN IMPROVE PROCESS EFFICIENCY AND HELP ACHIEVE DESIRED SECURITY LEVELS.

By relying on factual and measurable data, the main benefits of quantitative risk assessment are the presentation of very precise results about risk value and the maximum investment that would make risk treatment worthwhile and profitable for the organization. For quantitative cost-benefit analysis, ALE is a calculation that helps an organization to determine the expected monetary loss for an asset or investment due to the related risk over a single year.

For example, calculating the ALE for a virtualization system investment includes the following:

• Virtualization system hardware value: US$1 million (SLE for HW)
• Virtualization system management software value: US$250,000 (SLE for SW)
• Vendor statistics inform that a system catastrophic failure (due to software or hardware) occurs one time every 10 years (ARO = 1/10 = 0.1)
• ALE for HW = 1M * 1 = US$100,000
• ALE for SW = 250K * 0.1 = US$25,000

In this case, the organization has an annual risk of suffering a loss of US$100,000 for hardware or US$25,000 for software individually in the event of the loss of its virtualization system. Any implemented control (e.g., backup, disaster recovery, fault tolerance system) that costs less than these values would be profitable.

Some risk assessment requires complicated parameters. More examples can be derived according to the following “step-by-step breakdown of the quantitative risk analysis”: 19

• Conduct a risk assessment and vulnerability study to determine the risk factors.
• Determine the exposure factor (EF), which is the percentage of asset loss caused by the identified threat.
• Based on the risk factors determined in the value of tangible or intangible assets under risk, determine the SLE, which equals the asset value multiplied by the exposure factor.
• Evaluate the historical background and business culture of the institution in terms of reporting security incidents and losses (adjustment factor).
• Estimate the ARO for each risk factor.
• Determine the countermeasures required to overcome each risk factor.
• Add a ranking number from one to 10 for quantifying severity (with 10 being the most severe) as a size correction factor for the risk estimate obtained from company risk profile.
• Determine the ALE for each risk factor. Note that the ARO for the ALE after countermeasure implementation may not always be equal to zero. ALE (corrected) equals ALE (table) times adjustment factor times size correction.
• Calculate an appropriate cost/benefit analysis by finding the differences before and after the implementation of countermeasures for ALE.
• Determine the return on investment (ROI) based on the cost/benefit analysis using internal rate of return (IRR).
• Present a summary of the results to management for review.

Using both approaches can improve process efficiency and help achieve desired security levels. In the risk assessment process, it is relatively easy to determine whether to use a quantitative or a qualitative approach. Qualitative risk assessment is quick to implement due to the lack of mathematical dependence and measurements and can be performed easily. Organizations also benefit from the employees who are experienced in asset/processes; however, they may also bring biases in determining probability and impact. Overall, combining qualitative and quantitative approaches with good assessment planning and appropriate modeling may be the best alternative for a risk assessment process ( figure 2 ). 20

Qualitative risk analysis is quick but subjective. On the other hand, quantitative risk analysis is optional and objective and has more detail, contingency reserves and go/no-go decisions, but it takes more time and is more complex. Quantitative data are difficult to collect, and quality data are prohibitively expensive. Although the effect of mathematical operations on quantitative data are reliable, the accuracy of the data is not guaranteed as a result of being numerical only. Data that are difficult to collect or whose accuracy is suspect can lead to inaccurate results in terms of value. In that case, business units cannot provide successful protection or may make false-risk treatment decisions and waste resources without specifying actions to reduce or eliminate risk. In the qualitative approach, subjectivity is considered part of the process and can provide more flexibility in interpretation than an assessment based on quantitative data. 21 For a quick and easy risk assessment, qualitative assessment is what 99 percent of organizations use. However, for critical security issues, it makes sense to invest time and money into quantitative risk assessment. 22 By adopting a combined approach, considering the information and time response needed, with data and knowledge available, it is possible to enhance the effectiveness and efficiency of the risk assessment process and conform to the organization’s requirements.

1 ISACA ® , CRISC Review Manual, 6 th Edition , USA, 2015, https://store.isaca.org/s/store#/store/browse/detail/a2S4w000004Ko8ZEAS 2 Ibid. 3 Schmittling, R.; A. Munns; “Performing a Security Risk Assessment,” ISACA ® Journal , vol. 1, 2010, https://www.isaca.org/resources/isaca-journal/issues 4 Bansal,; "Differentiating Quantitative Risk and Qualitative Risk Analysis,” iZenBridge,12 February 2019, https://www.izenbridge.com/blog/differentiating-quantitative-risk-analysis-and-qualitative-risk-analysis/ 5 Tan, D.; Quantitative Risk Analysis Step-By-Step , SANS Institute Information Security Reading Room, December 2020, https://www.sans.org/reading-room/whitepapers/auditing/quantitative-risk-analysis-step-by-step-849 6 Op cit Bansal 7 Hall, H.; “Evaluating Risks Using Qualitative Risk Analysis,” Project Risk Coach, https://projectriskcoach.com/evaluating-risks-using-qualitative-risk-analysis/ 8 Leal, R.; “Qualitative vs. Quantitative Risk Assessments in Information Security: Differences and Similarities,” 27001 Academy, 6 March 2017, https://advisera.com/27001academy/blog/2017/03/06/qualitative-vs-quantitative-risk-assessments-in-information-security/ 9 Op cit Hall 10 Goodrich, B.; “Qualitative Risk Analysis vs. Quantitative Risk Analysis,” PM Learning Solutions, https://www.pmlearningsolutions.com/blog/qualitative-risk-analysis-vs-quantitative-risk-analysis-pmp-concept-1 11 Meyer, W. ; “Quantifying Risk: Measuring the Invisible,” PMI Global Congress 2015—EMEA, London, England, 10 October 2015, https://www.pmi.org/learning/library/quantitative-risk-assessment-methods-9929 12 Op cit Goodrich 13 Op cit Hall 14 Op cit Tan 15 Op cit Leal 16 Op cit Hall 17 Tierney, M.; “Quantitative Risk Analysis: Annual Loss Expectancy," Netwrix Blog, 24 July 2020, https://blog.netwrix.com/2020/07/24/annual-loss-expectancy-and-quantitative-risk-analysis 18 Op cit Leal 19 Op cit Tan 20 Op cit Leal 21 ISACA ® , Conductin g a n IT Security Risk Assessment, USA, 2020, https://store.isaca.org/s/store#/store/browse/detail/a2S4w000004KoZeEAK 22 Op cit Leal

Volkan Evrin, CISA, CRISC, COBIT 2019 Foundation, CDPSE, CEHv9, ISO 27001-22301-20000 LA

Has more than 20 years of professional experience in information and technology (I&T) focus areas including information systems and security, governance, risk, privacy, compliance, and audit. He has held executive roles on the management of teams and the implementation of projects such as information systems, enterprise applications, free software, in-house software development, network architectures, vulnerability analysis and penetration testing, informatics law, Internet services, and web technologies. He is also a part-time instructor at Bilkent University in Turkey; an APMG Accredited Trainer for CISA, CRISC and COBIT 2019 Foundation; and a trainer for other I&T-related subjects. He can be reached at [email protected] .

ConnectedGRC

Drive a Connected GRC Program for Improved Agility, Performance, and Resilience

BusinessGRC

Power Business Performance and Resilience

• Enterprise Risk
• Operational Risk
• Operational Resilience
• Business Continuity
• Observation
• Regulatory Change
• Regulatory Engagement
• Case and Incident
• Compliance Advisory
• Internal Audit
• SOX Compliance
• Third-Party Risk

Manage IT and Cyber Risk Proactively

• IT & Cyber Risk
• IT & Cyber Compliance
• IT & Cyber Policy
• IT Vendor Risk

Enable Growth with Purpose

AI-based Knowledge Centric GRC

• Integration
• Marketplace
• Developer Portal

Latest Release

MetricStream Named Category Leader in All Seven Quadrants of the Chartis Research RiskTech Quadrant® for Integrated GRC Solutions, 2024

Discover ConnectedGRC Solutions for Enterprise and Operational Resilience

• Enterprise GRC
• Integrated Risk Management
• Cybersecurity Risk Management
• Corporate Compliance
• Supplier Risk and Performance
• IT and Security Compliance, Policy and Risk
• UK SOX Compliance
• Privacy Compliance
• IDW PS 340 n.F.
• Banking and Financial Services
• Life Sciences

Learn about the EU’s Digital Operational Resilience Act (DORA) and how you can prepare for it.

Explore What Makes MetricStream the Right Choice for Our Customers

• Customer Stories
• GRC Journey
• Training & Certification
• Compliance Online

Robert Taylor from LSEG shares his experience on implementing an integrated GRC program with MetricStream

Discover How Our Collaborative Partnerships Drive Innovation and Success

• Our Partners
• Want to become a Partner?

Watch Lucia Roncakova from Deloitte Central Europe, speak on how the partnership with MetricStream provides collaborative GRC solutions

Find Everything You Need to Build Your GRC Journey and Thrive on Risk

Featured Resources

• Analyst Reports
• Case Studies
• Infographics
• Product Overviews
• Solution Briefs
• Whitepapers

Download this report to explore why cyber risk is rising in significance as a business risk.

Learn about our mission, vision, and core values

Gurjeev Sanghera from Shell explains why they chose MetricStream to advance on the GRC journey

6 Risk Assessment Methodologies Types and How to Choose?

Introduction.

Navigating the complex terrain of modern business demands a vigilant approach to protecting an organization’s sensitive information, which is constantly under the threat of various security risks. However, not all risks carry the same weight, and mitigation options vary in terms of both cost and efficacy. The dilemma then becomes: How does one navigate these choices to make well-informed decisions? Here is where risk assessment comes into play.

What is Risk Assessment?

Risk assessment is a systematic process of evaluating potential risks or uncertainties that could affect an organization's objectives, projects, operations, or assets. It involves identifying, analyzing, and prioritizing risks to determine their potential impact and likelihood of occurrence. The goal of risk assessment is to provide decision-makers with valuable information to make informed choices about risk mitigation strategies , resource allocation, and overall risk management .

A good risk assessment examines everything - market volatility, regulatory compliance , IT security, operational disruptions, financial fluctuations, and even natural disasters. These evaluations create a base for an organization to formulate a sturdy action plan. 

So, when risks do crop up, businesses aren't left flat-footed; they're agile, adaptable, and resilient.

What are Risk Assessment Methodologies?

Risk assessment methodologies can be considered as your business's secret roadmap, guiding you through an unpredictable world, and ensuring you avoid all the potholes and pitfalls along the way. 

They provide systematic, step-by-step procedures to identify, analyze, evaluate, and control potential hazards or threats that might disrupt a business’s functionality or growth. 

This particular risk assessment process is essential, helping your company transform abstract concerns into concrete action items. It’s about looking at risks in black and white and choosing the best strategy to ensure you get from Point A to Point B with minimum damage. And just like there isn’t a one-size-fits-all suit, risk assessment methodologies vary, each catering to a different need and nature of risks.

Types of Risk Assessment Methodologies

Quantitative  .

This methodology employs numerical data and statistical techniques to quantify risks. It involves the use of various mathematical models, simulations, and decision tree analysis to objectively calculate potential risks. This approach has its charm as it cuts through subjective opinions and potential biases by presenting cold hard facts. Risks are objectively measured, generally in financial terms, based on their potential cost to the organization and the probability of their occurrence. This kind of analytical clarity enables precise decision-making and facilitates easier comparisons between different risks. Quantitative methodology is indeed a practical tool, especially when financial loss and benefits must be meticulously calculated and analyzed. However, just like relying solely on a compass and measuring tape on a mountain trail can miss out on certain elements, quantitative risk assessment also has its limitations, specifically when dealing with non-quantifiable or more complex, subtle risks. 

Qualitative  

Unlike a hard-science approach, this method allows for judgment based on perception rather than numbers. It maps out possible risks based on subjectivity, where elements like risk severity, potential impact, and probability are ranked using ordinal scales (low, medium, high, or often numbers 1 to 5). Its real strength lies in the flexibility and adaptability that this method brings to the table. Indeed, this approach won't always provide the black-and-white, clear-cut results of a quantitative method, and the danger of bias does exist due to the level of subjectivity. Yet, this human-oriented approach might be your knight in shining armor when dealing with intricate, hard-to-quantify aspects such as reputational risks . 

Semi-Quantitative  

This approach manages to weave together elements of both qualitative and quantitative methods , possessing the simplicity and familiarity of the former, while allowing for more consistency and better comparative analysis through an injection of numbers. Here, risks are not just subjectively classified but are also numerically rated to obtain more specific risk scores. With these scores, it's like having a scale to weigh each risk factor according to its assigned value. As a result, the assessment provides more refined risk profiles than a purely qualitative approach. In this manner, a semi-quantitative methodology could be the choice for those wanting a broader risk image without drowning in an ocean of data or statistical uncertainty. 

Asset-Based  

With this method, every individual asset is closely inspected for possible risks, which might affect its functionality, value, or lifecycle. From physical assets like buildings or machines to intangible ones such as brand reputation or patents, each has unique vulnerabilities and threats associated with it. It typically involves four steps: 

• Asset Identification: Identify and categorize critical assets, ranging from physical equipment to sensitive data 
• Threat Identification: Identify potential threats that could impact the previously mentioned assets, covering scenarios like natural disasters, cyberattacks, or human error. 
• Vulnerability Identification: Identify weaknesses that could be exploited by the identified threats, such as outdated software or inadequate security protocols. 
• Risk Determination: Analyze the potential impact and likelihood of identified risks to prioritize and determine suitable risk response strategies.

The core of this method is identifying what is crucial to your organizational functionality, ensuring that if a threat does materialize, your most significant assets remain secure and your journey towards your organizational goals continues smoothly.

Vulnerability-Based  

Your objective is to find where your organization could be compromised and to evaluate those points in light of their impact on your overall risk scenario. Vulnerabilities could be your business operations that are more prone to disruption, fragile IT systems that can easily be breached, or critical production machinery that lacks adequate preventive maintenance. You must keep a keen eye on both your physical and cyber assets. With the advancing digital landscape, threats could lurk within both domains. 

When adopting this approach, identifying all assets is vital, since every business has various resources which are essential for its successful functioning. Post-asset identification, pinpoint the vulnerabilities and evaluate their potential impact, that is, the harm that would follow if a particular vulnerability were exploited. In essence, you're doing an 'integrity check' on your systems, wherein they become sturdier, and your peace of mind, as a business leader, magnifies. 

Threat-Based  

Threat-based risk assessment is a structured approach to evaluating and mitigating risks that focuses on identifying potential threats or hazards that could impact an organization's assets, operations, or objectives.

It functions by categorizing threats into intentional and unintentional categories, understanding each from an extensive standpoint. For example, consider intentional threats, including everything from organized cybercriminal groups trying to breach your company’s IT defenses to lone hackers manipulating vulnerabilities in the network. Unintentional threats, however, encompass natural disasters, data breaches due to employee negligence, and similar unforeseen incidents.

Factors to Consider When Choosing a Relevant Methodology

Business objectives.

Your organization is a unique entity with distinctive needs. Hence, a 'one-size-fits-all' risk assessment methodology may not be effective. Assess your needs based on your industry, size, culture, and the specific risk landscape you operate within. 

Consider the breadth and depth of risk analysis you need. While some methodologies might provide an exhaustive understanding, they may not drill down into intricate details. Select a method that gives the right balance of broad overview and detail-driven insights. 

Time and Resources

You need to account for the time, workforce, and financial resources available to you. This will help you choose between an automated tool versus a more manual process, each of which has its unique advantages. 

Data Quality

Your decision is as good as the data backing it up. Select a methodology that can ensure accurate, reliable, and up-to-date information is consistently available for assessment. 

Your team’s level of proficiency and the organization’s learning culture should guide your decision. An overly complex methodology could pose unnecessary challenges if your team lacks the expertise to operate it efficiently. 

Scalability

Your business will evolve with time, and so should your risk assessment methodology. Choose a model that's as agile and adaptable as your ambitions.

As is often the case, your final choice should blend seamlessly into your broader strategic vision and contribute actively to it, becoming less of an afterthought and more of a defining attribute. Balancing rigor and fluidity, strategic direction, and adaptability, the right risk assessment methodology for your organization is a strong defense that aids in fostering an atmosphere of proactive risk management and goal-oriented growth for your business.

How to Choose the Best Risk Assessment Methodology

Top 7 risk mitigation strategies with examples, what is a risk management framework and its components, how to create a successful risk management plan, essential elements of a successful integrated risk management program.

Subscribe for Latest Updates

Ready to get started?

10th March, 2022

The 5 Types Of Risk Assessment And When To Use Them

Risk assessments at work are a legal requirement. But which type do you need? In this post, we look at the 5 different types of risk assessment in health and safety. And when and why you might use each one. Including qualitative, quantitative, generic, site-specific and dynamic risk assessments.

Not all risk assessments are the same. You can use each different type of risk assessment for different situations. And we will cover each one in this post.

Before we start looking at the different types of risk assessments, keep in mind that different types of risk assessments can be used together. It's not always an either-or situation. Some parts of each type might be present in a single risk assessment.

A health and safety risk assessment considers the hazards present in a task or activity. It looks at the likelihood of harm that might occur. And the severity of that harm. A risk assessment should involve 5 steps :

• Identify the hazards
• Decide who might be harmed and how
• Evaluate the risks and decide on precautions
• Record your significant findings
• Review your assessment and update if necessary

With all types of risk assessment, the assessor should have experience in the type of work they are assessing. They need to know what hazards are present and how to manage them. They should also be competent in the risk assessment process, to be able to identify high risks and what action might be needed to reduce risk.

Let's look at the 5 types of risk assessment and when you might want to use them.

1. Qualitative Risk Assessment

The qualitative risk assessment is the most common form of risk assessment. You will often see this type of risk assessment in workplaces.

This type of risk assessment is based on the personal judgement and expertise of the assessor, who will often use their own experience to decide on the risk levels involved. The assessor will also consult with others carrying out the activity and best practice guidance to reach their decisions.

You will probably start any health and safety risk assessment with a simple qualitative assessment. In a qualitative risk assessment, the assessor will categorise risk into levels, usually high, medium or low.

A qualitative risk assessment should be a systematic examination of what in the workplace could cause harm to people, so that decisions can be made as to whether existing precautions or control measures are adequate or whether more needs to be done to prevent harm. HSE Good practice and pitfalls in risk assessment pg. 13

A qualitative risk assessment will look at the risk of somebody getting injured, and if that is high, medium or low. Just like any other type of risk assessment, any high risks will need to be addressed as a priority. Low-level risks can be looked at later, or might not need any further action to be taken.

Risk = Severity x Likelihood

Just because a qualitative risk assessment doesn't need to involve numbers, the risk is still calculated (by the severity of harm x likelihood of harm).

A qualitative risk assessment involves making a formal judgement on the consequence (severity) and probability (likelihood).

2. Quantitative Risk Assessment

The quantitative risk assessment is used to measure risk by assigning a numerical value. So instead of high, medium, and low, you could have 3, 2 and 1. Or the scale could be much larger than 3.

This type of risk assessment is more likely to be used with major hazards, like aircraft design, complex chemical or nuclear plants.

The quantities measured could be the presence of hazards from chemicals and machinery or modelling techniques and estimates, for example.

In carrying out quantitative risk assessments, special quantitative tools and techniques will be used for hazard identification, and to estimate the severity of the consequences and the likelihood of realisation of the hazards. HSE Good practice and pitfalls in risk assessment pg. 15

Often qualitative risk assessments might also assign numbers to different levels of risk. Like the 3 x 3 or 5 x 5 risk matrix . But this doesn't turn a qualitative risk assessment into a quantitative one. If the risk assessment is still based on the judgement of the assessor assigning the risk values, it is still primarily a qualitative assessment.

Sometimes, a qualitative risk assessment might become semi-quantitative, for example when some hazards or aspects can be measured, and others are based on judgement.

3. Generic Risk Assessment

The Management of Health and Safety at Work Regulations (1999) require employers to assess the risks arising from their work activities.

3.—(1) Every employer shall make a suitable and sufficient assessment of the risks to the health and safety of his employees to which they are exposed whilst they are at work; and the risks to the health and safety of persons not in his employment arising out of or in connection with the conduct by him of his undertaking, The Management of Health and Safety at Work Regulations Risk assessment

Generic risk assessments cover common hazards for a task or activity. The idea behind generic risk assessment is to cut down on duplication of effort and paperwork. This type of risk assessment will consider the hazards for an activity in a single assessment. And be used where that activity may be carried out across different areas of the workplace or different sites.

A generic risk assessment will often be used for similar activities or equipment across different sites, departments or companies. It can act as a risk assessment template , covering the types of hazards and risks usually present for the activity.

It's important to remember that while the risks from an activity may be common across different sites, changes in the environment can affect risk levels, and even introduce new hazards. It's probably best to use generic risk assessments as a starting point for a site-specific risk assessment.

4. Site-Specific Risk Assessment

A site-specific risk assessment is a risk assessment completed for a specific item of work. It takes account of the site location, environment, and people doing the work.

Your site-specific risk assessment might be qualitative or quantitative. And you might start with a generic risk assessment template . But you should finish with a site-specific risk assessment that is suitable and sufficient for the hazards present.

For example, imagine a generic risk assessment for drilling . It would cover risks like entanglement with rotating parts, projectiles, contact with hot parts of the tool during use, vibration and noise.

But could there be unusual hazards on your site that might change the risk level? You could be drilling within a confined space. A vessel or a tank, for example. Your access might be limited. Flammable gases could be present. You could need additional controls like atmosphere testing, a permit to work, a rescue plan.

A site-specific risk assessment will do more than look at common hazards. It will also address the unusual. Hazards that might only apply to that specific situation, on that particular day.

Find out more about the difference between site-specific and generic risk assessments in our blog post.

5. Dynamic Risk Assessment

A dynamic risk assessment is a process of assessing risk in an on the spot situation. This type of risk assessment is often used to cope with unknown risks and handle uncertainty. People who need to deal with developing and changing situations will often use dynamic risk assessments.

Dynamic risk assessments might be used by the emergency services or care workers, for example. Because the location, the situation and the people you are dealing with will change from case to case. So you must keep risk assessing the changing circumstances.

If there are significant changes, is the original risk assessment still valid? Should you try to deal with the situation? Is it safe to continue?

It is not always possible to prepare for every risk or hazard. A written risk assessment should assess the level of 'unknown' risks. Where an element of dynamic risk analysis is required, workers need to have the skills and awareness to recognise and deal with danger.

For example, if a lone worker feels uneasy about a situation, there should be a process in place to get help. Or action that can be taken, like emergency procedures, if things go wrong.

Rather than relying on the assessor's judgement, a dynamic risk assessment relies on the worker's judgement. They take on the role of the risk assessor at that moment.

Where there are dynamic elements to a risk assessment, workers need to have the confidence and judgement to know when it is not safe to proceed. Extra training will help to develop these skills. This training is particularly critical for lone workers who might not have anyone close by to ask advice from at the time.

Knowing the different types of risk assessment helps you use the right one at the right time. You might use one, or several, of the 5 types of risk assessment in your business.

Need help with risk assessments? Use our free risk assessment calculator and browse our library of risk assessment templates .

This article was written by Emma at HASpod . Emma has over 10 years experience in health and safety and BSc (Hons) Construction Management. She is NEBOSH qualified and Tech IOSH.

Need Health and Safety Documents?

Search hundreds of health and safety documents ready to edit and download for your business.

Recent posts like this...

Accident Books, The Law, And How To Complete Them

Do you need an accident book at work? When should you complete it? Who fills it in? Is the accident book a legal requirement? If you have questions about the accident book at work, this article is for you! Let's look at accident books, the law, and how to complete them.

10 Tips For Writing A Method Statement

Method statements tell you how to complete activities safely. But while method statements are important, they can also be difficult documents to write. Where should you start? In this blog post, we give you 10 tips for writing a method statement.

What Information Should A Method Statement Include?

A method statement should include all the important information your team must know to get the job done safely. Here are 15 items your method statement needs, with an explanation for what you should include in each section.

Spend less time on paperwork. Start with the free plan today.

A complete guide to the risk assessment process

Lucid Content

Reading time: about 7 min

Mark Zuckerberg, the founder of Facebook, once said, “The biggest risk is not taking any risk. In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

While this advice isn't new, we think you’ll agree that there are some risks your company doesn’t want to take: Risks that put the health and well-being of your employees in danger.

These are risks that aren’t worth taking. But it’s not always clear what actions, policies, or procedures are high-risk. 

That’s where a risk assessment comes in.

With a risk assessment, companies can identify and prepare for potential risks in order to avoid catastrophic consequences down the road and keep their personnel safe.

What is risk assessment?

During the risk assessment process, employers review and evaluate their organizations to:

• Identify processes and situations that may cause harm, particularly to people (hazard identification).
• Determine how likely it is that each hazard will occur and how severe the consequences would be (risk analysis and evaluation).
• Decide what steps the organization can take to stop these hazards from occurring or to control the risk when the hazard can't be eliminated (risk control).

It’s important to note the difference between hazards and risks. A hazard is anything that can cause harm , including work accidents, emergency situations, toxic chemicals, employee conflicts, stress, and more. A risk, on the other hand, is the chance that a hazard will cause harm . As part of your risk assessment plan, you will first identify potential hazards and then calculate the risk or likelihood of those hazards occurring.

The goal of a risk assessment will vary across industries, but overall, the goal is to help organizations prepare for and combat risk. Other goals include:

• Providing an analysis of possible threats
• Preventing injuries or illnesses
• Meeting legal requirements
• Creating awareness about hazards and risk
• Creating an accurate inventory of available assets
• Justifying the costs of managing risks
• Determining the budget to remediate risks
• Understanding the return on investment

Businesses should perform a risk assessment before introducing new processes or activities, before introducing changes to existing processes or activities (such as changing machinery), or when the company identifies a new hazard.

The steps used in risk assessment form an integral part of your organization’s health and safety management plan and ensure that your organization is prepared to handle any risk.  

Preparing for your risk assessment 

Before you start the risk management process, you should determine the scope of the assessment, necessary resources, stakeholders involved, and laws and regulations that you’ll need to follow. 

Scope: Define the processes, activities, functions, and physical locations included within your risk assessment. The scope of your assessment impacts the time and resources you will need to complete it, so it’s important to clearly outline what is included (and what isn’t) to accurately plan and budget. 

Resources : What resources will you need to conduct the risk assessment? This includes the time, personnel, and financial resources required to develop, implement, and manage the risk assessment. 

Stakeholders: Who is involved in the risk assessment? In addition to senior leaders that need to be kept in the loop, you’ll also need to organize an assessment team. Designate who will fill key roles such as risk manager, assessment team leader, risk assessors, and any subject matter experts. 

Laws and regulations: Different industries will have specific regulations and legal requirements governing risk and work hazards. For instance, the Occupational Safety and Health Administration (OSHA) sets and enforces working condition standards for most private and public sectors. Plan your assessment with these regulations in mind so you can ensure your organization is compliant. 

5 steps in the risk assessment process

Once you've planned and allocated the necessary resources, you can begin the risk assessment process.

Proceed with these five steps.

1. Identify the hazards

The first step to creating your risk assessment is determining what hazards your employees and your business face, including:

• Natural disasters (flooding, tornadoes, hurricanes, earthquakes, fire, etc.)
• Biological hazards (pandemic diseases, foodborne illnesses, etc.)
• Workplace accidents (slips and trips, transportation accidents, structural failure, mechanical breakdowns, etc.)
• Intentional acts (labor strikes, demonstrations, bomb threats, robbery, arson, etc.)
• Technological hazards (lost Internet connection, power outage, etc.)
• Chemical hazards (asbestos, cleaning fluids, etc.)
• Mental hazards (excess workload, bullying, etc.)
• Interruptions in the supply chain

Take a look around your workplace and see what processes or activities could potentially harm your organization. Include all aspects of work, including remote workers and non-routine activities such as repair and maintenance. You should also look at accident/incident reports to determine what hazards have impacted your company in the past.

Use Lucidchart to break down tasks into potential hazards and assets at risk—try our free template below.

2. Determine who might be harmed and how

As you look around your organization, think about how your employees could be harmed by business activities or external factors. For every hazard that you identify in step one, think about who will be harmed should the hazard take place.

3. Evaluate the risks and take precautions

Now that you have gathered a list of potential hazards, you need to consider how likely it is that the hazard will occur and how severe the consequences will be if that hazard occurs. This evaluation will help you determine where you should reduce the level of risk and which hazards you should prioritize first.

Later in this article, you'll learn how you can create a risk assessment chart to help you through this process.

4. Record your findings

If you have more than five employees in your office, you are required by law to write down your risk assessment process. Your plan should include the hazards you’ve found, the people they affect, and how you plan to mitigate them. The record—or the risk assessment plan—should show that you:

• Conducted a proper check of your workspace
• Determined who would be affected
• Controlled and dealt with obvious hazards
• Initiated precautions to keep risks low
• Kept your staff involved in the process

5. Review your assessment and update if necessary

Your workplace is always changing, so the risks to your organization change as well. As new equipment, processes, and people are introduced, each brings the risk of a new hazard. Continually review and update your risk assessment process to stay on top of these new hazards.

How to create a risk assessment chart

Even though you need to be aware of the risks facing your organization, you shouldn’t try to fix all of them at once—risk mitigation can get expensive and can stretch your resources. Instead, prioritize risks to focus your time and effort on preventing the most important hazards. To help you prioritize your risks, create a risk assessment chart.

The risk assessment chart is based on the principle that a risk has two primary dimensions: probability and impact, each represented on one axis of the chart. You can use these two measures to plot risks on the chart, which allows you to determine priority and resource allocation.

Be prepared for anything

By applying the risk assessment steps mentioned above, you can manage any potential risk to your business. Get prepared with your risk assessment plan—take the time to look for the hazards facing your business and figure out how to manage them.

Now it's time to create your own risk management process, here are five steps to get you started.

About Lucidchart

Lucidchart, a cloud-based intelligent diagramming application, is a core component of Lucid Software's Visual Collaboration Suite. This intuitive, cloud-based solution empowers teams to collaborate in real-time to build flowcharts, mockups, UML diagrams, customer journey maps, and more. Lucidchart propels teams forward to build the future faster. Lucid is proud to serve top businesses around the world, including customers such as Google, GE, and NBC Universal, and 99% of the Fortune 500. Lucid partners with industry leaders, including Google, Atlassian, and Microsoft. Since its founding, Lucid has received numerous awards for its products, business, and workplace culture. For more information, visit lucidchart.com.

Related articles

5 steps to any effective risk management process.

While you can’t entirely avoid risk, you can anticipate and mitigate risks through an established risk management process. Follow these steps!

5 steps of the strategic planning process

Implement the strategic planning process to make measurable progress toward achieving your company’s vision and make decisions that will keep you on the path to success for years to come.

Bring your bright ideas to life.

or continue with

By registering, you agree to our Terms of Service and you acknowledge that you have read and understand our Privacy Policy .

An official website of the United States government

Here’s how you know

Official websites use .gov A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

https://www.nist.gov/publications/guide-conducting-risk-assessments

Guide for Conducting Risk Assessments

Download paper, additional citation formats.

• Google Scholar

If you have any questions about this publication or are having problems accessing it, please contact [email protected] .

Managing risks and risk assessment at work

Subscribe for the latest health and safety news and updates.

3. Risk assessment template and examples

You can use a risk assessment template to help you keep a simple record of:

• who might be harmed and how
• what you're already doing to control the risks
• what further action you need to take to control the risks
• who needs to carry out the action
• when the action is needed by
• Risk assessment template (Word Document Format)
• Risk assessment template (Open Document Format) (.odt)

Example risk assessments

These typical examples show how other businesses have managed risks. You can use them as a guide to think about:

• some of the hazards in your business
• the steps you need to take to manage the risks

Do not just copy an example and put your company name to it as that would not satisfy the law and would not protect your employees. You must think about the specific hazards and controls your business needs.

• Office-based business
• Local shop/newsagent
• Food preparation and service
• Motor vehicle repair shop  
• Factory maintenance work

View a printable version of the whole guide

Is this page useful?

Filter by Keywords

13 Free Risk Assessment Templates in Excel & ClickUp

Praburam Srinivasan

Growth Marketing Manager

June 25, 2024

Start using ClickUp today

• Manage all your work in one place
• Collaborate with your team
• Use ClickUp for FREE—forever

Risk assessment tools save project managers time and resources by clarifying potential risks before the team gets to work.

Research shows more than 60% of projects are often beyond budget, late, or fail to deliver according to specifications. By using effective risk assessment strategies, you are more prepared to prioritize threats and interruptions to your project. And as a result, the overall success rate of the project will improve.

We’ve put together a list of 13 free risk assessment templates and use case examples to fit your project or program requirements . Whether you need to address the safety hazards of potential equipment or share a risk rating document with teams and stakeholders—we got you covered!

What is a Risk Assessment Template?

1. clickup risk assessment template, 2. clickup risk analysis template, 3. clickup value risk matrix template, 4. clickup assumption grid decision matrix template, 5. clickup risk register template, 6. clickup pi planning risk template, 7. clickup job safety analysis template, 8. excelhub risk assessment excel template, 9. excel accounting risk assessment form template by wps, 10. excel risk matrix template by projectmanager, 11. excel it risk assessment template by projectmanager, 12. excel analysis & risk management plan template, 13. excel health and safety hazards template by template.net, what makes a good risk assessment template.

A risk assessment template is a resource to assess risks early and develop an actionable response plan . Depending on your industry type, a general risk assessment includes:

Risk identification

• Impact area
• Probability
• Level of impact
• Mitigation plans

This type of assessment template breaks risks down into varying stages, often using spaced tables for you to document identified threats and which parties are at risk. Risk templates also include a tool for assessing the likelihood and severity of risks.

13 Free Risk Assessment & Analysis Templates

The  ClickUp Risk Assessment Whiteboard Template  creates a visual dimension for your risk assessment process. It assists in assessing risks and categorizing, inspiring your team to share insights and collaborate in an engaging and visual format. 

This template allows you to:

• Evaluate risk categories and potential impacts
• Analyze data to identify potential areas of concern
• Determine preventive measures to reduce risk exposure

With features that enable you to draw, write, and add sticky notes, this risk management whiteboard template is perfect for evaluating your project’s risks.

Sometimes, a visual approach to your risk management plan is more effective for project teams. If that resonates with you, the ClickUp Risk Analysis Whiteboard Template   is perfect!

Collaborate in real-time as you identify potential pitfalls, such as resource constraints , in your upcoming project and brainstorm solutions . Effortlessly link tasks, documents, images, and other files from this template, providing your team with the context needed to swiftly transition from idea to execution.

With this template, you can:

• Identify and assess any potential risks associated with a project.
• Determine the probability and impact of a risk event.
• Develop a plan to mitigate or eliminate the risk.
• Visualize the risk analysis process and track the progress of risk management activities.

This risk management template equips project managers with the tools to understand the risk category, track risk status, and document the actual risk descriptions.

A technical and effective way to understand what to prioritize in your business model and new idea list is by understanding the worth of these features and the degree of risk linked to the implementation.

ClickUp’s Value Risk Matrix Template helps you go through the risk matrix for each possible risk that may occur. It’s a great way to practice proactive risk management . And since it’s a simple template, you can easily walk through the process and fill the value risk matrix quickly.

Here’s how you can use this risk assessment template:

• Create a task for each idea
• Input or select the person responsible for the idea or the plan execution
• Attach the file that contains all the information (i.e. research, cost analysis , etc.) about the idea/new feature
• Classify whether the idea/new feature is for your customers, admin, employees, or for the business in general

An assumption grid helps you identify various assumptions from your business model. The grid plots these assumptions on two separate axes:

• Low-impact assumptions with little information available
• High-impact assumptions with little information available

Visualizing these assumptions helps you mitigate risks, make judgment calls, and overcome uncertainties. The ClickUp Assumption Grid Template is similarly a type of decision-making tool.

You can easily determine what the big boxes represent by checking the Legend. Each box has a corresponding color with added meaning.

• Yellow = Certain, High Risk
• Red = Uncertain, High Risk
• Green = Certain, Low Risk
• Grey = Uncertain, Low Risk

One of the most crucial parts of managing risks is to operate strategically to address any potential issues that may happen when managing a specific project.

With this template, you can document risks and response actions to manage each risk. It also helps you track potential risks and implement preventative measures before the risks happen. The ClickUp Risk Register Template is essential to successfully manage risks identified and logged on the register with actions to be taken to respond to the risk.

Responses should be regularly reviewed to monitor the progress. This risk assessment template offers several benefits, including:

• Collecting potential risks and preparing proper actions for them
• Assigning direct team members to monitor and prioritize tasks
• Categorizing risks by type ( Risks Response , Risks Status , and Risks by Level )

ClickUp’s Pi Planning Template helps you get a perfect overview of your PI Planning process with step-by-step frames that guide you through the entire risk assessment process.

The template gives you a clear picture of your team members’ backlog, including capacity, workload, and risks. Note that the number of sticky notes containing identified risks may shrink or grow as your team decides on mitigation approaches during the planning process.

The PI Planning Template is divided into four main boards to organize your PI Planning event:

• Teams Board : Includes iterations, tasks, and objectives for each specific team
• Program Board : Includes features, dependencies, and milestones
• Agenda Board : Includes schedule, agenda, and presenter
• ROAM Board : Includes program risks and obstacles

A job safety analysis should be conducted in workplaces to identify potential hazards that could cause major or serious injury such as hazard exposure, hazardous substances, and procedure changes.

The ClickUp Job Safety Analysis Template organizes key information all employees can access in a single view, including:

• Site location address
• Possible risks/hazard
• Countermeasures/Department
• Protective equipment
• Additional notes
• PDF Files demonstrating the proper steps

This is a basic risk assessment template in Excel designed to help you take the initial steps to standardize your processes. You can easily determine the data that should be collected from your business areas, outline suggested response selections, and define key terms.

Regardless of the risk events, configuration and assessment parameters, the risk assessment template in Excel can help you manage risks before they occur.

Accurate finance and accounting risk assessments are essential and can make or break your personal or business finances. This professionally built basic risk assessment form template gives you valuable insights into your accounting risk level.

It also helps you provide all the necessary details about your business product requirements . In addition, accurate costing of purchased products is crucial to ensure your business does not suffer unnecessary losses.

The free risk matrix template from Excel takes any potential threat and determines the impact and extent it could have on a particular project. This template helps you create a risk management process to highlight and correct issues before they become serious problems.

It also serves as a communication tool to let the team members know the risks that might arise during a project. This allows everyone to alert others if an issue becomes known and where it falls on the prioritization scale.

Bonus: RAID templates for risk management!

The number of risks to an IT landscape is enormous, including software or hardware failure, viruses, malware, scams, pace, and phishing.

Human errors, as well as malignant threats from fraud, hackers, security breaches, and denial-of-service attacks also exist. Natural disasters like fire and floods also damage an IT system carrying valuable data.

With the Excel IT Risk Assessment template from ProjectManager, you can take into account the following:

• The number of equipment and personnel needed to continue operating
• How long it takes to restore the data or system functionality 
• System and data needs

Identifying risks is just a single step of the risk assessment process. The subsequent steps include other activities such as risk strategy, monitoring, and funding.

The Excel Management template helps you determine the likelihood of risk occurrence and the potential impact through risk analysis. It also helps understand the project’s performance and quality. As a result, you can easily implement adequate response and risk mitigation.

The Excel Health and Safety Hazards Template by Template.net is an essential tool for organizations committed to maintaining a safe and compliant workplace. Designed to facilitate the identification, assessment, and management of health and safety risks, this template provides a structured approach to hazard documentation and control measures.

With a user-friendly interface, the template allows for easy input and tracking of potential hazards across various work environments. Key features include sections for hazard description, risk assessment, control measures, and responsible personnel. The template also supports prioritization of risks, ensuring that high-risk hazards are addressed promptly to mitigate potential accidents and injuries.

This comprehensive tool is ideal for safety officers, managers, and compliance teams, providing them with a reliable method to document hazards systematically. By utilizing this template, organizations can ensure they meet regulatory requirements and maintain a proactive stance towards health and safety.

The Excel format ensures compatibility and ease of use, allowing for customization to fit specific organizational needs. With the Excel Health and Safety Hazards Template, Template.net empowers businesses to create a safer work environment, enhance employee well-being, and foster a culture of safety awareness.

A good risk assessment template is easy to update, creates consistency for future work, and simplifies the creation process. If your company has specific criteria for assessing risk, using a template will ensure everyone has the same information to take the correct risk and control measures. Here are four key processes a risk assessment template will include:

This process needs dedication and creativity as it focuses on highlighting potential risks that might occur and impact project metrics. There are several methods for identifying potential threats in your organization. Your project team can brainstorm possible hazards and transform the findings into a risk checklist.

Risk analysis

This goes beyond being able to identify potential risks and determines the criticality of the risk. This is where you assign both qualitative and quantitative values to possible risks and analyze the potential and strategies to minimize them. Risk analysis helps you understand the risks’ likelihood of occurrence and potential impact. This way, you can implement the proper mitigation and response.

Risk response and mitigation

Risk mitigation helps design and implement strategies to reduce the occurrence and the impact of the risks. The primary objective is to minimize the likelihood of risk incidence as much as possible.

Risk control

Risk monitoring and control are also part of your assessment template. It helps ensure that the plans are carried out properly. As a result, your template should use the risk monitoring and controlling function to guarantee that your assessment and risk mitigation strategies are effective.

Developing a Powerful Risk Assessment Plan

Without performing a risk assessment at the initial stages of your project, you won’t have the advanced preparation needed to prioritize safety controls.

Empower your team stays ahead of potential hazards with the best risk assessment tools and a productivity platform like ClickUp.

ClickUp makes it easy to plan, manage, and report on projects from anywhere. Get real-time project visibility and report on key metrics with automated workflows and Dashboards to keep your team informed and connected!

Questions? Comments? Visit our Help Center for support.

Receive the latest WriteClick Newsletter updates.

Thanks for subscribing to our blog!

Please enter a valid email

• Free training & 24-hour support
• Serious about security & privacy
• 99.99% uptime the last 12 months

Free Risk Assessment Form Templates and Samples

By Andy Marker | July 29, 2020

• Share on Facebook
• Share on LinkedIn

Link copied

In this article, you’ll find the most useful collection of expert-tested, professionally designed risk assessment templates in Word, PDF, and Excel formats.

Included on this page, find risk assessment form templates for general risk assessments , workplace risk assessments , project risk assessments , event risk assessments , and more, and learn how to conduct a risk assessment .

General Risk Assessment Form Templates

Sample risk assessment form.

Use this sample risk assessment form to identify risks by type (e.g., financial, legal, or reputational). The customizable form includes space to provide a risk description, source, existing control measures, and risk level, as well as a section to detail a risk mitigation action plan, if you need to take further action.

Download Sample Risk Assessment Form

Word | PDF | Smartsheet

Basic Risk Assessment Template

Use this risk assessment template to track and log risks and hazards, resources impacted, existing control measures, and the probability and impact of each risk. There is also space to add prevention measures and ownership, as well as the status of control measures to ensure you’re implementing controls in a timely manner.

Download Basic Risk Assessment Template

Excel | Smartsheet

Risk Assessment and Control Template

This risk assessment and control template provides a high-level view of potential risks and hazards. Add a description of control measures, the frequency of controls, and the party responsible for ensuring that all up-to-date controls are in place.

Download Risk Assessment and Control Template

Excel | Word | PDF | Smartsheet

Hazard Identification and Assessment Plan

This two-part template contains a tab with an action plan to identify hazards, with room to assign roles and responsibilities, key dates, and pertinent information. Use the second tab to assess and classify the identified hazards, describe the person(s) impacted, note instituted control measures, establish a plan for further controls needed, and assess the status of implementing those controls.

Download Hazard Identification and Assessment Plan Template

Workplace Risk Assessment Form Templates

Job risk assessment template.

Use this risk assessment template to classify jobs by department, project, or another relevant category. Track hazards associated with each job, the resources impacted, existing control measures, and the probability and likelihood of each risk, according to existing security measures. If you require further action, use the allotted space to create an action plan by adding additional prevention measures, actions to take, ownership, and the status of preventative actions.

Download Job Risk Assessment Template

Excel | PDF | Smartsheet

Work-Related Stress Risk Assessment Form Sample

This customizable, work-related stress risk assessment form serves as a framework for those in management or leadership positions to identify, consider, and assess sources of stress among their team. Use this form as a checklist to identify potential stressors pertaining to job demands, team support, change management, and more. There is also room to identify potential risks, solutions, and pertinent information to help mitigate risks associated with work-related stress.

Download Work-Related Stress Risk Assessment Template

Workplace Hazard Risk Assessment Template

Use this template to identify and assess risks related to a specific job or workplace activity. List identified risks, affected parties, existing measures, and risk ratings according to likelihood and severity. There is also space to create an implementation plan with assigned roles and status for each applicable hazard.

Download Workplace Hazard Risk Assessment Template — Excel

Working at Heights Risk Assessment Form

Use this customizable risk assessment form to uncover risks and hazards associated with the nature of work performed at dangerous heights. The template includes a checklist, so the assessor can mark observations and take notes pertaining to the safety of the work area and equipment. There is also room to detail existing control measures, responsible parties, and any recommendations the assessor has to further mitigate risks and hazards.

Download Working at Heights Risk Assessment Form Template

Operational Risk Management Template

This operational risk management template is ideal for creating a list of risks, the rate and cost of annual incidents, probability of risk occurrence, and associated mitigation and control costs. Once you enter those values, built-in formulas will automatically calculate the annual cost, weighted annual cost, and cost/benefit value. This information is useful for developing cost-effective risk mitigation and control strategies.

Download Operational Risk Management Template

Excel | PDF

Construction Risk Assessment Form Templates

Construction risk assessment template.

This construction risk assessment template comes with a built-in matrix for identifying and categorizing common construction project risks. Determine the severity and likelihood of each risk, and then assign the respective party to develop control measures to address and mitigate them.

Download Construction Risk Assessment Template

Excel | Word | PDF

Construction Project Risk Assessment Template

Use this customizable template to categorize risks associated with each phase of a construction project. Detail the risk and impact description, and then assign a probability and level value based on the provided key. The built-in formula will automatically calculate the risk score, which enables you to assess the situation and take appropriate action.

Download Construction Project Risk Assessment Template

Excavation Risk Assessment Form Template

Use this risk assessment template to describe hazardous risks associated with excavation during a construction project. Identify persons impacted by potential risks, determine risk levels, and develop an action plan to minimize the probability and effects of identified risks. There is also space to assign plan ownership, add due dates, and note status in order to keep the plan on track.

Download Excavation Risk Assessment Template

Excel | Word |  PDF

Welding Risk Assessment Template

Use this welding risk assessment to identify and assess the implications of hazards for a specific welding project. Detail the necessary steps to mitigate risks and hazards, assign task ownership, set key dates, and track progress of your mitigation control action plan. 

Download Welding Risk Assessment Template — Excel

Project Risk Assessment Form Templates

Project management risk assessment template.

Use this risk assessment template to evaluate and manage risks associated with a project. List hazardous project activities, describe the associated risks, and then add severity, likelihood, and risk levels with existing controls measures. Next, re-evaluate risks post-mitigation to determine if it is safe to proceed with project activities.

Download Project Management Risk Assessment Template

Business Project Risk Assessment Sample Template

Use this risk assessment sample template to identify and organize potential risks for each phase of a business project. Detail how each risk impacts time, costs, and resources with existing mitigation measures in place. Then, enter the risk probability and impact level values, and the template will automatically calculate the risk score. This template includes an action plan to assign additional tasks and ownership to help minimize risks with a higher score.

Download Business Project Risk Assessment Sample Template

Travel Risk Assessment Form Templates

Travel risk assessment form template.

Use this travel risk assessment form template to evaluate risks associated with travelers, planned destinations, and anticipated excursions during a trip. This template provides space to list the names and contact information for each traveler, along with the latest guidelines and recommendations for areas to visit that may have political, economic, sanitary, or other implications. You’ll also find a customizable risk management action plan and assessment questionnaire.

Download Travel Risk Assessment Form Template

Word | PDF  

Pre-Travel Risk Assessment Form

This customizable pre-travel risk assessment form is perfect for travelers to complete and submit to their designated healthcare provider prior to taking a trip. Use this template to document details regarding the dates, purpose, and anticipated areas of travel during a trip, along with medical conditions, medications, allergies, and other medical information a doctor can assess prior to authorizing patient travel.

Download Pre-Travel Risk Assessment Form

Fire Risk Assessment Form Templates

Fire risk assessment form template.

Use this customizable risk assessment form to examine potential fire hazards, or other issues that could cause safety concerns during a fire. This form serves as a checklist to evaluate all fire detection and alarm systems on the premises, current fire escape procedures, fire fighting equipment, and more, to account for potential dangers, risks, and safety concerns. 

Download Fire Risk Assessment Form Template

Office Fire Risk Assessment Form Template

Use this office fire risk assessment form template is to identify potential hazards, persons at risk, and control measures in the event of a fire. Use this checklist to ensure you’ve safely secured combustible items, established fire escape routes, and properly trained all staff on fire safety procedures. There is also space to detail an action plan with activity ownership and deadlines to put additional control measures in place.

Download Office Fire Risk Assessment Form Template

Church Fire Risk Assessment Form Template

Use this fire risk assessment form to evaluate the potential risks and mitigation control measures associated with a church fire. Provide details regarding the layout of your church, occupancy rates during various services, designated locations of vulnerable occupants at risk, and background information related to previous fire incidents. This template also comes with a customizable checklist to ensure that you’re testing detection and alarm systems, escape procedures, and fire fighting equipment regularly, and that everything is working properly.

Download Church Fire Risk Assessment Form Template

Hazardous Substance Risk Assessment Form Templates

Hazardous substances risk assessment form.

Use this risk assessment form to identify potential hazards related to the use of a specific substance and to list existing control measures (e.g., air quality monitoring, ventilation, PPE) to help mitigate associated risks. There is also space to include a recommended action plan to improve health and safety measures for personnel working with the hazardous substance.

Download Hazardous Substances Risk Assessment Template

Hazardous Substance Identification, Assessment, and Control Plan Template

Use this customizable template to identify and classify hazardous substances by type (e.g., powder, liquid, gas), with room to detail the quantity and purpose of use. This template also contains a checklist to convey the hazards associated with each substance, methods of containment and disposal, prevention and control measures, level of risk, and more. 

Download Hazardous Substance Identification, Assessment, and Control Plan Assessment Template

Event Risk Assessment Form Templates

Event risk assessment template.

Use this customizable template to identify and classify potential risks for an event. You can categorize event risks by type (e.g., activity, environment, technical) to determine the probability and severity of a specific occurrence. Detail existing control measures to mitigate each risk and decide if you need to take further action.

Download Event Risk Assessment Template

Fundraising Event Risk Assessment Form

This simple fundraising event risk assessment form provides space to list event activities, accompanying risks, and persons impacted by risks. Assign a risk level to each potential hazard, and then detail control measures, ownership, and completion dates to ensure a risk mitigation plan is in place prior to event launch.

Download Fundraising Event Risk Assessment Form Template

Event Management Risk Assessment

This risk assessment template can help you evaluate and manage potential risks for all aspects of an event, including general risks, traffic management, emergency stations, food services, hazardous chemicals, and more. Assess the probability and potential severity of an incident to determine its risk level, and then establish control measures prior to the event.

Download Event Management Risk Assessment Template

Vendor Risk Assessment Form Templates

Vendor risk assessment template.

Use this customizable template as a third-party risk assessment to pinpoint and evaluate security vulnerabilities related to a vendor. Use the provided rating key to assign a color-coded risk level to specific criteria and include other pertinent information. Use this template to determine if you require further action to mitigate vendor risk.

Download Vendor Risk Assessment Template

Excel | PDF  | Smartsheet

Vendor Risk Assessment Questionnaire Sample Form

Use this questionnaire as a starting point for evaluating security risks associated with vendors. Detail the type of data a vendor can access, and use the included checklist to select policies and measures related to physical and data center security, malware security, network infrastructure security, and more. At the bottom of the template, there is also space for the risk assessor to sign and date the form.

Download Vendor Risk Assessment Questionnaire Sample Form

For additional resources, visit “ Free Vendor Risk Assessment Templates .”

Health and Safety Risk Assessment Form Templates

Health and safety risk assessment template.

Use this risk assessment template to assess and classify hazards related to biological, chemical, environmental, machinery, and other potential risks that impact health and safety. Select the impact, probability, and risk level for each hazard, and then establish control measures to reduce risk severity and likelihood. You can also document the activity details and purpose, and have the assessor and approving official add signatures.

Download Health and Safety Risk Assessment Template

Oxygen Risk Assessment Form

Use this risk assessment form to evaluate a patient’s lifestyle and living conditions to determine if a home oxygen prescription is feasible. This template provides a checklist to identify physical risks (e.g., mobility challenges, vision impairment), lifestyle risks (e.g., smoking, alcohol addiction), and environmental risks (e.g., living in a building with multiple occupancy, cooking with a gas stove) to determine if benefits outweigh the risks for home oxygen.

Download Oxygen Risk Assessment Form

School Risk Assessment Form Templates

School risk assessment template.

Complete this customizable school risk assessment template to uncover potential risks for various categories, including school recreation areas, building access, culture, communications, and more. Detail associated hazards, the likelihood and severity of an occurrence, and risk level with existing control measures in place. There is also space to add comments and further actions required to reduce the probability and impact of a risk.

Download School Risk Assessment Template

School Trip Risk Assessment Form

Use this risk assessment form template to identify potential risks that can occur during a school trip. Detail the purpose, destination, and dates of a planned school trip at the top. Then, write a description of potential risks and hazards with a high severity, persons impacted, and the probability and risk level using the provided key. Assign control measures for each risk, as needed, and provide any additional information that can help minimize risk during the trip.

Download School Trip Risk Assessment Form

Student Project Risk Assessment Form

This customizable risk assessment form is ideal for evaluating the level and impact of risks associated with a school project. Add the student’s information and project details at the top, and then list and assess hazards that may occur due to the risks identified. Establish and note control measures in the space provided to help reduce the level and severity of risks. There is also room to provide an assessment conclusion, with lines for signatures at the bottom for the assessor, student, and supervisor.

Download Student Project Risk Assessment Form

Other Risk Assessment Form Templates

Financial risk assessment template.

Use this customizable risk assessment template to pinpoint and classify financial risks associated with various categories, including marketing, human resources, operations, products and services, and any other department. The template has space for you to identify the risk source, describe the potential impact, and select the probability and impact of each risk using the provided keys. There is also a matrix to identify the risk level and determine next steps.

Download Financial Risk Assessment Template

Security Risk Assessment Form

This security risk assessment template is useful for identifying risks related security, including policies and procedures, administrative securities, technical securities, and more. Detail the impact description, likelihood, and risk level, and then assign actions and track the status of existing control measures.

Download Security Risk Assessment Template

IT Risk Assessment Template

This IT risk assessment template comes with a built-in matrix to assign a severity, likelihood, and impact level to each identified risk. Organize risks by type, determine which assets are impacted, identify risk triggers, and add remediation strategies to help lower the internal and user impact of risks.

Download IT Risk Assessment Template

Science Experiment Risk Assessment Form

Use this customizable template to assess risks associated with a science experiment, including the equipment and tools used to conduct the experiment. Add details at the top of the template, and then list the items needed to execute. Use the space provided to include the item’s purpose, potential hazards, and standard handling procedures. Then, assess the experiment by listing risks related to a specific activity; identify probability, impact, and level of risk using the provided key; and establish control measures to mitigate risks and hazards.

Download Science Experiment Risk Assessment Form

For more free resources, visit “ All the Risk Assessment Matrix Templates You Need .”

Purpose of a Risk Assessment

Conducting a risk assessment creates awareness of potential risks and hazards associated with a particular vendor, job, project, or event. A risk assessment is an integral part of a risk management plan, and helps measure the probability and impact of an occurrence.

Once you identify potential risks and hazards and consider the impact and probability of each, you can assess existing control measures to determine if further mitigation actions are necessary. The ultimate goal of the risk assessment process is to create a safer and healthier environment and experience for those who could be impacted by hazards associated with identified risks.

Steps to Conduct a Risk Assessment

Follow these steps to conduct a thorough risk assessment to create a safer workplace, experience, or event:

• Identify and classify potential risks or hazards that may cause physical, mental, chemical, or biological harm.
• Determine the groups of people at risk of being harmed.
• Assess the impact, likelihood, and risk level with existing control measures in place.
• Determine if further action is necessary to mitigate the risks.
• Prioritize the risks by identifying those with higher impact and probability levels.
• Establish an action plan to mitigate risks with assigned roles and responsibilities. 
• Review your risk assessment regularly to determine if you need to take further action.

You can start identifying potential risks and hazards by performing a thorough inspection of the site where you’ll be conducting the work, or by visiting and researching the site where an event will take place. Gather insight from those with experience at the site by conducting interviews and surveys to uncover any past issues. In addition, be sure to consult with manufacturers, suppliers, and associations relevant to your industry to gather valuable safety and health information.

Benefits of Risk Assessment Software

Document, track, control, and review health and safety hazards in the workplace more effectively by using risk assessment and management software. Common benefits of utilizing software include the following:

• Built-in forms allow you to easily disseminate surveys to employees to gather information, and also enable employees to report risks they encounter in the field.
• Attach and submit relevant images and documents to the risk management system from multiple devices.
• Easily organize, classify, store, and track risks in a secure location.
• Store all safety policies and procedures in a centralized place that updates in real time, and ensure all necessary stakeholders have access to it.

To learn if your organization would benefit from risk management software, and how to choose the right software for your needs, visit “ How to Choose the Right Risk Management Software .”

Assess Risks Faster to Make Better Decisions with Smartsheet Dashboards

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

Effective risk assessment: Key steps and best practices

Table of contents

What is a risk assessment, essential steps for conducting a risk assessment, best practices for risk assessments, common risk assessment mistakes to avoid, create risk assessment checklists with workflow automation software.

Risk assessment lies at the heart of a safe and efficient workplace. From fire hazards to vulnerabilities in network security and machine malfunctions, risks are present in every industry–and they can disrupt operations, harm people, and cost money if not identified and managed.

If you’ve landed here, you’re likely searching for ways to tackle these potential hazards in your organization. A thorough risk assessment can reveal these dangers, allowing you to take action before they become expensive problems.

When managers conduct risk assessments regularly, they can pinpoint various risks and implement safety measures to address them promptly. This ensures the well-being of everyone involved, enhances productivity, and maintains compliance with safety regulations. Taking this proactive approach is not just beneficial—it’s essential for the success of any organization.

Dive into our guide below to learn all about how to conduct risk assessments , including essential steps and resources.

Risk assessments are essential for ensuring occupational health and safety in a company. They help prevent accidents and occupational diseases .

In any risk assessment, you would ask yourself if there’s anything in the environment, whether it’s an object, situation, or task, that could pose a danger to the health and wellbeing of workers or anyone else involved. If so, what exactly are the hazards , and how severe are the risks?

Employers are required to perform risk assessments as per various laws, ordinances, and regulations , including the Occupational Safety and Health Act , the Ordinance on Industrial Safety and Health , and the Ordinance on Hazardous Substances . Since different companies face different conditions, these rules don’t define exactly how these procedures should look.

However, a risk assessment must always be complete and factually accurate. It involves conducting standardized inspections, assessing the severity and likelihood of incidents , and implementing control measures to reduce risks. After the assessment, businesses create a risk matrix to evaluate the likelihood of and assign risk ratings to hazards.

A thorough risk assessment allows you to trace risks back to their source and address the root causes of issues. It’s important to note that risk assessments differ from Job Safety Analyses (JSA), and sometimes both are necessary for comprehensive safety management.

Based on the Federal Institute for Occupational Safety and Health (BAuA), a risk assessment features these essential steps. We’ve added some practical tips for each:

1. Define work areas and activities

First, you need to get a clear picture of your workplace. Start by creating a detailed map of your workplace and marking all different areas like offices, production lines, storage spaces, and maintenance zones.

Next, list out the specific activities that occur in each area. For example, in a manufacturing plant, the production line might involve tasks like assembly, quality control, and packaging, while the storage area might involve loading, unloading, and inventory management. By breaking down the activities, you can understand the potential risks associated with each area.

This process allows you to see the big picture and identify zones that might need extra attention because of the tasks performed there.

2. Assess hazards

The next step is to evaluate the severity and likelihood of each hazard that you’ve found. This means looking at how serious the potential harm could be and how likely it is to happen.

Start by asking questions like, “ What are the potential negative outcomes ?” and “What is the extent of the possible harm?” If you’ve identified a slippery floor as a hazard, consider the worst-case scenario—someone could slip, fall, and get injured.

Next, think about how likely each hazard is to occur. This involves looking at past incidents, near-misses, and any existing safety measures. If that slippery floor is in a high-traffic area and has caused falls before, the likelihood is pretty high. On the other hand, if it’s in a rarely used storage room, the risk might be lower.

Combining the severity and likelihood gives you a clearer picture of which hazards need immediate attention and which ones can be monitored over time.

3. Prioritize the hazards with a risk assessment matrix

Once you’ve evaluated each hazard, rank them to determine which ones are the most critical. This way, you can focus right away on the issues that could have the greatest impact, then work your way through the list of hazards.

To prioritize risks, you can use tools like risk matrices or risk scoring systems.

A risk matrix is a common tool that plots the severity of harm against the likelihood of occurrence. It’s essentially a grid where one axis represents the severity of the hazard (ranging from minor to catastrophic) and the other axis represents the likelihood of the hazard occurring (ranging from rare to almost certain).

You can then categorize levels such as low, medium, high, or critical. A high-severity hazard with a high likelihood of occurrence would be considered a critical risk and should be addressed immediately.

Another option is a risk scoring system , where you assign a severity rating and a likelihood rating for each hazard. You’ll then multiply these to produce a risk score so you can rank the hazards. If a hazard has a severity score of 5 (on a scale of 1 to 5) and a likelihood score of 4, the risk score would be 20. A higher score means it’s a higher priority risk that needs immediate action.

4. Determine and execute corrective measures

Now that you’ve prioritized the risks, it’s time to figure out how to tackle them. The goal here is to either reduce the severity and likelihood of the risks or eliminate them altogether.

Start by brainstorming practical solutions for each high-priority hazard. Here are a few examples:

• If you’ve identified poor lighting as a risk in a warehouse, you might install brighter lights, adding more light fixtures, or even organize a regular maintenance schedule to make sure all lights are functioning properly.
• For chemical exposure risks, make sure all hazardous substances are properly labeled and protected, provide personal protective equipment (PPE) like gloves and masks, and conduct regular training sessions on safe handling procedures.
• For cybersecurity threats, implement robust firewalls, update your software regularly, and conduct employee training on recognizing phishing attempts and other cyber threats.

It’s also a good idea to involve your team in this process. Employees often have valuable insights and practical suggestions based on their daily experiences. They might point out simple fixes that you hadn’t considered or highlight areas that need more attention.

Once you’ve identified the corrective measures, document them clearly and assign responsibilities for their implementation. Everyone involved should know their responsibilities and understand the steps they need to take. Set deadlines and follow up to ensure that the actions are carried out effectively.

5. Verify effectiveness and update hazard assessments

After implementing corrective measures, you should check if the actions taken are actually reducing or eliminating the identified risks . Conduct follow-up inspections and get feedback from employees to see if the changes have made a noticeable difference. If you provided new safety training, assess whether employees are applying what they’ve learned in their daily tasks.

Regularly reviewing and updating your risk assessments is equally important. The work environment and activities can change over time, introducing new hazards or altering existing ones. Schedule periodic reviews of your risk assessments so they remain current and relevant. You might revisit areas where changes have occurred, such as new equipment installations.

There are many steps involved in a risk assessment, and following the best practices below will make it much more effective. Your risk assessments will be smoother if you:

• Notify employees before conducting an inspection of the workplace . Give a brief overview of what the inspection will involve and why it’s important. This helps them understand the process and encourages their cooperation.
• Inspect the workplace and identify potential hazards. During the inspection, use a checklist so you cover all areas and activities. Pay attention to both obvious risks and subtle ones that might not be immediately obvious.
• Determine whether accidents have already occurred. Review incident reports or any other records of past accidents . Talk to employees who were involved in these incidents to get a clearer idea of what happened and how to prevent similar events.
• Develop a plan to preserve a safe work environment that supports needed corrective actions. This includes specific steps to address each identified hazard, timelines for implementation, and assigned tasks. You can involve employees in the planning process to get their buy-in and insights.

Risk assessments are prone to certain errors. Inspectors and businesses frequently make three mistakes when assessing risks and hazards:

• Not repeating the process. A hazard assessment should not be a single inspection; instead, they should be regular and based off the results of previous inspections. Hazard analyses and continuous improvement need to be organizational habits to ensure sustainable health and safety.
• Not involving outside contractors. When working with outside companies, third parties are also responsible for employee safety. Make sure your business partners perform risk assessments as well.
• Not involving enough inspectors. Risk assessment inspections should be done by several safety officers , to ensure they are as thorough as possible.

In order to keep track of hazards, risks, control measures, and corrective actions properly, you’ll need a good record-keeping system. Documenting your findings helps you improve and is necessary to meet legal obligations.

Instead of writing pen-and-paper risk assessment checklists, save yourself time and increase the utility of your inspections with workflow automation software like Lumiform. By digitizing inspection checklists so they can be used again and again, and creating your own custom checklists to reflect the unique risks present in your company, you’ll work more efficiently and have an easier time developing improvements.

Lumiform’s workflow automation platform:

• Lets you convert any existing safety inspections into digital forms easily, or use one of the many premade risk assessment templates to start making your workplace safer
• Lets you track everything that happens on site and monitor the tasks you’ve assigned your employees
• Guides safety inspectors through your prepared checklists step-by-step so that they don’t miss anything and there are no errors
• Empowers you to complete risk assessments about 30%-50% faster overall
• Generates automatic reports after each completed risk assessment, making it easy to follow up and to measure improvements

Try Lumiform

• Risk and compliance
• Risk assessment

Everything you need to boost productivity, safety, and quality.

• Skip to primary navigation
• Skip to main content
• Skip to primary sidebar
• Skip to footer

SafetyRisk.net

Humanising Health, Safety and Risk

FREE RISK ASSESSMENT FORMS, CHECKISTS, REGISTERS, TEMPLATES and APPS

Free safety ebooks here >>>>>>>, huge collection of free risk assessment advice, tips, forms, templates, risk registers, checklists, completed examples, apps and guidelines.

Disclaimer: To quote Dr Rob Long : “Unfortunately, many of the tools available to people in the safety industry are mechanistic in nature and shape the thinking of the human into a dumb down trajectory. Whilst it’s good to have a checklist or a template, it’s even more important to be aware of the purpose and inherent bias. The paradox is, some checklists and templates disable to capability of a person to think. So, this is not some simplistic put down of these tools but rather a challenge for safety people to remain vigilant in their thinking . This site more than anything attracts people who want templates and don’t get me wrong templates can save time and effort but they are not neutral and were developed by some other person for a purpose, that template has a trajectory and a purpose” .

FIRST SOME GREAT ADVICE ON HOW TO DO A RISK ASSESSMENT PROPERLY:

Very Popular article: How to Do the Best Risk Assessment

A risk assessment is a form of strategic planning and strategy methodology. The process attempts to think about the future by reflecting on the past. Most strategies are built upon specific beliefs about the future unfortunately, the future is unpredictable. The worst risk assessment is the one that denies …… Enjoy the rest of the article >>>>>

Risk Mitigation from Human Dymensions on Vimeo .

Risk assessment tips

The risk management process consists of hazard identification, risk assessment and hazard control. Some people tend to get fixated on the risk assessment part and do not place enough emphasis on hazard control. Personally I find Haddon’s 10 countermeasures more useful than the hierarchy of controls when developing controls Risk assessment is …… Enjoy the rest of the article >>>>>

Comparing Types of Risk Assessment

When it comes to risk assessment all templates look the same, as much a Safety loves templates, there is no value at all in duplicating someone else’s designed template. READ MORE >>>>>

Free Risk Assessment Matrix templates from SMARTSHEET

• How to Use a Risk Assessment Matrix Template
• Risk Assessment Matrix Template
• Risk Management Matrix Template
• Risk Control Matrix
• IT Risk Assessment Matrix Template
• Business Risk Assessment Matrix Template
• Risk Response Matrix Template
• Construction Risk Assessment Matrix Template
• Project Risk Matrix Template
• Make Better Decisions, Faster with Smartsheet Dashboards

WHAT IS A RISK ASSESSMENT MATRIX?

A risk assessment matrix is a chart that plots the severity of an event occurring on one axis, and the probability of it occurring on the other. You can also format the matrix as a table, where the risk likelihood and impact are columns, and the risks are listed in rows. By visualizing existing and potential risks in this way, you can assess their impact, and also identify which ones are highest-priority. From there, you can create a plan for responding to the risks that need the most attention.

A risk matrix chart is a simple snapshot of the information found in risk assessment forms, and is often part of the risk management process. These forms are more complex, and involve identifying risks, gathering background data, calculating their likelihood and severity, and outlining risk prevention and management strategies.

HOW TO USE A RISK ASSESSMENT MATRIX TEMPLATE

RISK ASSESSMENT TIPS FROM THE UK

The UK Health and Safety Executive (HSE) have published this brief guide to the assessment and control of risk. Download it here: A brief guide to controlling risks in the workplace

>>> NEW RISK MANAGEMENT CHECKLIST

More of a high order checklist, with thanks to Human Dymensions, to pick up on public risks associated with events: Public Event Risk Management Checklist – HD

If you are looking for Free Safety Checklists CLICK HERE

If you are looking for free safety systems documents click here, if you are looking for free safe work method statements / jsa’a click here, download electronic risk score calculator:  (sorry, we had to retire this very popular download as the coding had become deprecated), other risk assessment resources:.

Risk Assessment Templates from SafetyCulture

Risk Assessment Templates

Identify hazards and prioritize safety controls with digital forms

Featured Templates

• Risk Assessment and Control Template
• Dynamic Risk Assessment Template
• Construction Risk Assessment Template
• Office Risk Assessment Template
• Manufacturing Risk Assessment
• Job Hazard Analysis Template
• Working at Height Risk Assessment Template
• Fire Risk Assessment Template
• COSHH Risk Assessment Form
• Excavation Risk Assessment Template
• Environmental Risk Assessment
• HSE Risk Assessment
• Manual Handling Risk Assessment

What is a Risk Assessment Template?

A risk assessment template is a tool used to identify and control risks in the workplace. It involves a systematic examination of a workplace to identify hazards, assess injury severity and likelihood, and implement control measures to reduce risks.

Basic Risk Assessment Template

Use this basic risk assessment form to identify, assess and control hazards in the workplace. Learn how to use this template to perform an effective risk assessment and how to use a risk matrix in our beginner’s guide to performing risk assessments. This template can be used at any time when assessing risk and control measures but should be ideally conducted before the commencement of new tasks. It includes:

• A description of the procedure, task, or worksite being assessed
• Identify the hazards and document them
• Identify the risks associated with each activity
• Attach photos of the hazards
• Determine a risk rating
• Document the specific control measures taken to mitigate the risk
• Download Basic Risk Assessment Template
• Preview Sample Digital Report
• Preview Sample PDF Report

A risk matrix is used to assess the consequence, likelihood, and overall risk rating of a safety hazard. The first measure of the risk matrix, consequences, determines the severity of injuries, while likelihood determines the probability of a person getting injured in the event of hazard exposure. Consequences are categorized as fatality, major or serious injury, minor injury, and negligible injury. For likelihood, the indicators are very likely, likely, unlikely, and highly unlikely. Keep in mind that likelihood doesn’t measure the possibility of hazards but the injuries they can inflict upon a person.

More Free Risk Assessment Resources

• 21  Safety Engagement Tools and Techniques
• Electrical Equipment Risk Assessment Form electrical_equipment_risk_assessment_checklist
• Electrical Equipment Risk Assessment Checklist Electrical_Equipment_Risk_Assessment_v2.0
• Very comprehensive checklist that can be used to document a risk assessment to manage health and safety hazards and risks. health-safety-risk-assessment-template (1)
• Risk Assessment and Risk Control Form (ASSESSING & CONTROLLING RISKS FROM MANUAL TASKS): Risk Assessment – Risk Control Form – Manual Tasks
• Hazard Reporting Spreadsheet
• Task Risk Assessment Template: Task-Risk-Assessment-Template
• Dropped Object Risk Assessment, Guide and Cone Calculator: DROPPED OBJECTS
• Plant Hazard Identification & Risk Assessment Form: OHS&W Plant Specific Hazard Identification
• Hazardous Substances Risk Assessment Form: HAZ SUBST RISK FORM
• Get your free Risk Register Template Here: THE TROUBLE WITH RISK REGISTERS
• Risk Assessment Checklist Some good examples of Risk Assessment Checklists
• Forklift Risk Assessment Worksafe Qld are urging Employers to complete risk assessments on forklift activities following a spate of recent forklift related incidents
• Free Risk Assessment Form Use this free form to describe, analyse, assess , rate and control hazards or risks . Download Word version.
• Free Risk Assessment Forms Another great source of free risk assessment forms and templates.
• Risk Assessment … Anyone? Risk Assessment … Anyone? A valuable lesson in weight distribution when operating cranes. I’m pretty sure this wasn’t in the UK!!
• Risk Assessment Training Risk Assessment Training Found this really good risk management training outline published online by SMARTSAFE Download Here:
• Risk Assessment Forms Example risk assessment templates These completed examples from UK Health … The principals of risk assessment are the same for whatever industry you
• Office Risk Assessment Office Risk Assessment : Tips for Assessing Risks in an Office When discussing risk assessment , most risk is attributed to …
• Free Risk Assessment Training The University of Newcastle website offers some excellent free safety training resources .
• Risk Assessment for Schools Risk Assessment for Schools Just came across this really neat site that assists teachers and lab technicians to complete school science experiment risk …
• Blank Risk Assessment Form Example of a blank risk assessment form from YHA used to assess risks associated with school excursions. Download Here: …
• Office Risk Assessment Tool UK Health and Safety Executive have released a new online risk assessment tool that they claim will: “help cut back the time it takes to weigh up the hazards in …
• Construction Risk Assessments The Construction Risk Assessments software package by Safety Services Direct consists contains over 60 …

School Events, Fetes, Fairs, Fundraisers and Carnivals

• School Fundraising Event planning checklist
• Non-profit fundraising risk management – alcohol, events and safety
• Amusement Devices – Planning for School Events

Supercharge Your Safety Meetings with Unlimited Streaming

Unlimited Streaming gives you unlimited access to a massive library of 140+ online safety training videos. All videos can be played on a TV or projector to train a room full of workers. It’s the best way to conduct engaging and memorable safety training meetings. See how Unlimited Streaming can supercharge your safety meetings..click here to watch an explanatory video at the Atlantic Training website.

• Fire Risk Assessment Software Fire Risk Assessment Software or Fire Consultant for your business Guest Posting by UK Fire Safety Solutions Fire Risk Assessment Software or Fire Consultant …
• Free Online Risk Assessment Tools The SAFETY GURU website offers a number of really neat online risk assessment tools. They are available for various tasks including :Working Alone, Driving at …
• Plant Risk Assessment –Brisbane Plant Risk Assessment Advantage Safety & Risk Management Services are experienced safety consultants working in and around the Brisbane area. They have …
• Free Fire Risk Assessment Forms Free Fire Risk Assessment Forms FIRE RISK ASSESSMENT provides some excellent fire safety risk assessment resources including a free risk assessment …

Hazard Identification, Assessment and Control Procedures from UWS –  Download Document

• Tunnelling Risk Assessment
• Risk Assessments for High Schools. Risk Assess is online software that makes performing risk assessments for Science quick and easy for teachers and laboratory technicians. Visit Website
• Blank Risk Assessment Form in Excel Format Down load here: Risk Assessment Template
• Use this form to describe, analyse, assess, rate and control hazards or risks. Includes a 1 to 25 risk matrix as commonly required by Govt departments. – OSHA HIRARC
• Comprehensive Project Risk Assessment Questionnaire template used to identify, analyse and control  risks that will impact the project and the level of threat they pose to the project’s success. : Risk_Assessment_Questionnaire_Template
• Very Cute “Fish Bone” or Cause and Effect Diagram Template : QLA-FishboneTemplate
• Here is a really neat free template provided by Builders Net. The interactive form lets you choose hazards and appropriate safety control measures or insert your own from the extensive drop down boxes. This format complies with all requirements and relevant codes. Download Here :
• One of our favourite sources of free Safety Photos and Safety Jokes – www.safetyphoto.co.uk – is also a great source for free risk  assessment forms and templates. These are all blank and mostly in word for so that you can adapt them to suit your own needs. Please note the message in their intro and disclaimer. VIEW THEM HERE>>>>>
• Free Work Method Statements
• On Safe Lines have released their new TIRA free software. TIRA stands for Task Inventory and Risk Assessments and is a comprehensive risk management and analysis program, designed to be used by both the safety professional and those with part time safety  responsibilities. The screen shots and description look very impressive, particularly for a free program. I haven’t reviewed the program but will do a review when I get a chance. Thoughts of others who have tried it would be welcome  Download the program here
• Basic Risk Register Template for recording site hazards and risks including planned controls and before and after risk ratings. Download Here:
• JSA Template . Use this template to conduct job hazard analysis and risk assessments on individual tasks to assist in developing Job Safety Analysis (JSA) and Safe Work Method Statements (SWMS). Download Here:
• Event Risk Management Checklist – Equestrian Federation of Australia
• Hazard Report Form . One of the main complaints we get from employees and contractors during the interview phase of safety audits is that when they report something, like a hazard, it is either forgotten about, ignored or not actioned for a long time and they never receive recognition for reporting the issue or feedback about progress with resolution or control. Many companies have introduced a formal hazard reporting system to overcome this problem. The system incorporates a form similar to the one available below and a procedures whereby the form is recorded, commented on by those responsible and feedback given to the originator. You’ll see that ours has an important addition – adding the issue and controls to any site safety checklists that are regularly undertaken to ensure that the hazard has been controlled appropriately. Download Here:

National Emergency Risk Assessment Guidelines (NERAG)

This DRAFT is one of the simplest, yet all encompassing, guides to the principles of risk management and the risk management tools involved that I have come across. Produced for Emergency Services personnel as part of the the National Emergency Risk Assessment Guidelines (NERAG) Project is a key step in the Implementation Plan for the National Risk Assessment Framework that has been developed to meet the outcomes sought by Reform Commitment One (RC1) from the Council of Australian Governments’ (COAG) report on natural disaster mitigation, relief and recovery in Australia. Although is used to assess disasters and emergencies, the principals and tools are relevant to any situation or workplace hazard. It covers the use of tools such as ALARP, Risk Assessment Matrix, Bow Tie Diagram, Risk Curves, Risk Registers, Brainstorming and Risk Workshops with some simple examples. Download Here:

Useful Risk Assessment Tools from Workcover

• Health and safety self assessment checklist for small business: ISBN-Health-and-safety-self-assessment-checklist-for-small-businesses-2021-08
• Risk Register and Risk Management Plan: risk-management-plan-multiple-hazards
• Small Business Safety Assessment Tool – Worksafe This checklist is intended for small businesses to determine what safety issues may need to addressed or improved, and when more information may be needed.
• Chemical Self Assessment Tool – Worksafe This tool is designed to help manage chemicals safely, meet legal requirements and protect people and the environment. Chemical safety requires a thorough, technical approach, especially to ensure the subtle and hidden hazards do not lead to catastrophic results. This self assessment tool is designed to assist in this task for sites that have a significant exposure to chemical hazards.
• Safety Self Assessment Tool – Workcover This tool has been developed to give small and medium sized businesses an indication of how well they are handling their workplace health, safety and injury management and provide further guidance for improvement.

Some good examples of Risk Assessment Checklists

• Manual Handling Risk Management Checklist : Risk Assessment – Risk Control Form – Manual Tasks
• UV Risk Assessment Checklist for Outdoor Workers: UV_Risk_Assessment_Checklist-1
• Electrical Safety Risk Assessment Checklist : electrical_equipment_risk_assessment_checklist
• HSDG RA . This checklist is used to assist in conducting a risk assessment for hazardous substances and chemicals in the hairdressing, nail and beauty industry. CLICK HERE
• Machinery and Plant Risk Assessment Checklist :
• This Checklist should be completed as part of the overall Risk Management Plan for Your Event :
• Risk Assessment Checklist for Occupational Violence : violence_checklist
• Falls Risk Assessment Checklist from Vic Health: Falls Risk Assessment Tool
• Pre Purchase Risk Assessment Tool for Plant and Machinery from ANU: Pre Purchase Risk Assessment Checklist
• Risk Assessment Checklist for Volunteer Activities from Education TAS: Volunteer-Risk-Assessment-checklist
• Risk Assessment Checklist and Guidelines for Emergency Planning : Emergency Preparedness

More Examples:

• RISK MANAGEMENT FOR COMMUNITY ORGANISATIONS By WA Dept of Sport and Recreations. Includes Community RiskBase User’s Guide. Download Here:
• Manual Handling Assessment Checklist – Safe Work Australia Risk Assessment – Risk Control Form – Manual Tasks
• Contractor Risk Assessment Form – Port of Brisbane – PBPL Risk Assessment Form
• Field Activity Risk Assessment Form
• Liability Risk Assessment Template – A really good, practical tool used by Dept of Defence Procurement Dept. Down load here: LRA_Template
• Strategic Risk Assessment Template – Dep Primary Industries. Download Here:
• Task Risk Assessment Template – DPI. Download Here task-risk-assessment-template

Event Risk Assessment and Management

• Checkout this really useful tool from VMIA – Risk Management Tools and Resources  
• Guide to Managing Risk at Public Events – Download Here:
• Link to Macquarie University’s Events Manual . Covers marketing, public liability, planning, security and safety
• Link to Australian Centre for Event Management

Risk Assessments From The UK Dept of Schools

Risk assessments, general / workplace.

• General Risk Assessment: Form RA1 (PDF)
• General Risk Assessment: Form RA1 (Word)
• Guidance for General Risk Assessment: Form RA1 (PDF)
• Manual Handling Operations Form (PDF)
• Manual Handling Operations Form (Word)
• Display Screen Equipment Risk Assessment Form (PDF)
• Display Screen Equipment Risk Assessment Form (Word)
• Safe System of Work Form (PDF)
• Safe System of Work Form (Word)
• COSHH: Hazardous Substances Form (PDF)
• COSHH: Hazardous Substances Form (WORD)
• COSHH: Hazardous Substances Form Annexe A (WORD)
• Guidance for COSHH Regulations Risk Assessment Form
• COSHH: Biological Agents – Form BA1 (PDF)
• COSHH: Biological Agents – Form BA1 (Word)
• DSEAR Risk Assessment (PDF)
• DSEAR Risk Assessment (WORD)
• DSEAR Risk Assessment Guidance

Travel / Fieldwork

• Fieldwork Assessment: Form FA1 (PDF)
• Fieldwork Assessment: Form FA1 (Word)
• Guidance for Fieldwork Assessment: Form FA1
• Travel Risk Assessment (PDF)
• Travel Risk Assessment (Word)
• Visit the Business Travel website for guidance and advice
• Travel Health Assessment: Form OHF5 (PDF)
• Travel Health Assessment: Form OHF5 (WORD)

Lone and Out of Hours working

• Lone Working Model Risk Assessment Form (PDF)
• Lone Working Model Risk Assessment Form (Word)
• Lone Working Generic Risk Assessment Form (PDF)
• Lone Working Risk Assessment Guidance

New and Expectant Mothers

• New and Expectant Mothers Model Risk Assessment Form (Word)
• Guidance for New and Expectant Mothers Risk Assessment Form
• Information for managers – Risk assessment information and guidance
• Stress – Managers Risk Assessment (PDF)
• Stress – Managers Risk Assessment (Word)

Perhaps have a look at what regulators and government agencies give out as risk assessment templates. It’s all the same:

• https://www.hse.gov.uk/simple-health-safety/risk/risk-assessment-template-and-examples.htm
• https://www.worksafe.qld.gov.au/safety-fundamentals/managing-risks/template
• https://www.safework.nsw.gov.au/__data/assets/pdf_file/0019/52741/form-4-site-specific-risk-assessment.pdf
• https://safetyculture.com/checklists/15-best-risk-assessment-checklists/
• https://healthandsafety.curtin.edu.au/risk-assessment/index.cfm

Risk Assessment Template for the Workplace | Free Download

Download Safeti’s free Risk Assessment   Template for the workplace (Basic & Advanced) to start developing your own risk assessments and stay legally compliant .

Free Risk Assessment Guide – Risk assessment template

JESI completely removes the need for paper-based forms – Saving you time and money. Download your free Risk Assessment Guide now. Remote Worker Management Solutions. Get Started For Free . No Credit Card Required. View Case Studies. See Our Products. Read Blog.

Download Risk Assessment Template

Checklist, Planning Tips, Budget Template , Marketing & Event Management For Races. 40 Steps to Organise a Race Successfully. Complete Checklist when planning a race. Find New Participants. Virtual Race Management. Easy Timekeeping Control. Efficient Race Management.

WHS Policy – Free Policy Templates

Ensure Your Organisation Is Covered By Implementing WHS Procedures & Policies. Access A Range Of HR Policy Templates From WHS To Dismissal Policy. Helpful Blogs. Printable Version. Periodically Reviewed. Large Collection. Award Winning. Secure Data. Customisable. Cloud-based. Automated. Smart Integrations. Services: Compliant Contracts, Paperless Onboarding, Employee Management.

Free Resources Workplace Hygiene Policy Get Started

Please share our posts

• Click to print (Opens in new window)
• Click to email a link to a friend (Opens in new window)
• Click to share on LinkedIn (Opens in new window)
• Click to share on Facebook (Opens in new window)
• Click to share on Reddit (Opens in new window)
• Click to share on Pinterest (Opens in new window)
• Click to share on WhatsApp (Opens in new window)

Reader Interactions

Howard Mann says

December 13, 2018 at 10:39 AM

Oh I’m sorry for the misunderstanding at the time Barry. I would be very happy if you were to link to us in this great resource 😀

Barry Spud NFI, CertSW, ASS says

December 13, 2018 at 5:50 AM

I tried linking to your site a few years ago but you told me to remove the link?

December 12, 2018 at 3:12 PM

Firstly, amazing resource wow! Very comprehensive collection of risk assessment guides, tips and global checklist resources. Love it.

My name is Howard and I’m from the team behind the mobile inspection app iAuditor and wonder if you could include a link to our free mobile risk assessment templates as well: https://safetyculture.com/checklists/15-best-risk-assessment-checklists/

Keep up the great work adding to this amazing resource.

Howard Mann from Sydney Australia 😀

Do you have any thoughts? Please share them below Cancel reply

Top posts & pages.

• Sacrificing Truth for No Blame
• CATCHY and FUNNY SAFETY SLOGANS FOR THE WORKPLACE
• The Danger of Bad Safety Slogans in Traditional Safety
• 500 of THE MOST EFFECTIVE HEALTH and SAFETY SLOGANS 2024
• The Blame Game of HOP

Recent Posts

• Culture Cloud tour part 5; Values Attitudes and Beliefs
• Absolute Error Prevention

VIRAL POST!!! HOW TO QUIT THE SAFETY INDUSTRY

FEATURED POSTS

Spor convention canberra 18-21 september 2023, how is the unconscious in communication critical for understanding and managing risk, auditing the 7 golden rules of zero, a miserable fail, i was just trying to help, the sully effect.

More Posts from this Category

VIRAL POST – The Risk Matrix Myth

WHAT IS PSYCHOLOGICAL SAFETY?

What is Psychological Safety at Work?

Are you a British Safety Council member?

Log in or register below

Basket adjustments detected!

Your basket has been adjusted. This may be due to an event becoming unavailable or you logging into the site and your active roles changing.

Risk assessments: what they are, why they're important and how to complete them

Risk assessment is a primary management tool in ensuring the health and safety of workers (and others). What many people perhaps are not aware of, however, is that they are actually a legal requirement for employers and certain self-employed people.

Risk assessment is a primary management tool in ensuring the health and safety of workers (and others). What many people perhaps are not aware of, however, is that they are actually a legal requirement for employers and self-employed people.

Whether you're wondering how to complete a risk assessment or are unsure of their relevance within your industry, read on to discover everything you need to know.

What is a risk assessment?

The definition of a risk assessment is a systematic process of identifying hazards and evaluating any associated risks within a workplace, then implementing reasonable control measures to remove or reduce them.

When completing a risk assessment, it is important to clearly define some keywords:

• An  accident  is ‘ an unplanned event that results in loss ’
• A  hazard  is ‘ something that has the potential to cause harm’
• A  risk  is ‘ the likelihood and the severity of a negative occurrence (injury, ill-health, damage, loss) resulting from a hazard. ’

Additional training may be required if you need to complete or re-assess your risk management procedures. Completing training such as our  British Safety Council Certificate in Risk Assessment  will help ensure a risk assessment is suitable and sufficiently detailed.

Different types of risk assessments

The types of risk assessment required within any workplace should be proportionate and relevant to the operational activities being undertaken. In many industries, there are specific legislative requirements that apply. For example, in environments where hazardous substances are used a Control of Substances Hazardous to Health Assessment (COSHH) should be completed (for more information see  What is COSHH? ).

Some common types of risk assessments include:

• Fire risk assessments : fire safety management procedures are required to be established in all workplaces including a suitable and sufficient fire risk assessment.
• Manual handling risk assessments : should be conducted in any workplace where an employee may be at risk from injury and/or ill-health through the need to lift, carry, move loads.
• Display screen equipment (DSE) risk assessments : are required to be completed in workplaces where employees (and others) are using computers, laptops, etc.
• COSHH risk assessments : are required within workplaces where hazardous substances are stored, used or manufactured.

A business may also choose to complete a Risk Assessment Method Statement (RAMS) dependent upon the nature of the operations being carried out. This process contains details of the hazard and a step-by-step procedure on how to complete work and suitably control the risks identified. This process is commonly used within the construction industry.

Why are risk assessments important?

As previously stated, carrying out suitable and sufficient risk assessments is the primary management tool in effective risk management. It is a legal requirement for any employer and must be documented wherever five or more people are employed.

Risk assessment is a straightforward and structured method of ensuring the risks to the health, safety and wellbeing of employees (and others) are suitably eliminated, reduced or controlled.

The main purpose of risk assessments are:

• To identify health and safety hazards and evaluate the risks presented within the workplace
• To evaluate the effectiveness and suitability of existing control measures
• To ensure additional controls (including procedural) are implemented wherever the remaining risk is considered to be anything other than low.
• To prioritise further resources if needed to ensure the above.

It can be a costly lesson for a business if they fail to have necessary controls in place. They could face not only financial loss (through fines, civil actions, etc) but also loss in respect of production time, damage to equipment, time to train replacement employees and negative publicity amongst others.  

A recent article in British Safety Council Safety Management magazine outlines an incident where a business was ‘fined £274,000 after two workers became trapped in moving machinery in two separate incidents’. In the report, Health and Safety Executive (HSE) inspector Saffron Turnell noted that “companies should be aware that HSE will not hesitate to take enforcement action against those that fall below the required standards.” It is cases like this one that should act as a warning for all business and highlight the importance of risk assessments.

Risk assessment in the workplace

There are a number of reasons why risk assessments are important in the workplace, not to mention the fact that they are a legal requirement. We've outlined some of the main reasons below.

1. Risk assessments are crucial to preventing accidents in the workplace: not only can risk assessments reduce the likelihood of accidents, they also help raise awareness of hazards and minimise risk.

2. They reduce injuries and save lives: risk assessments don't just identify hazards that create short-term risks. Without an effective risk assessment, long-term risks such as exposure to asbestos wouldn't be identified or mitigated, potentially leading to fatal health problems. 

3. They help generate awareness about hazards in the workplace: organisations and employers being aware of hazards means injury is less likely to occur. Not only does this keep everyone safe and well but it will additionally save the company money. Injured employees may require sick pay, time off and compensation and Health and Safety Executive (HSE) could issue fines if they find you in breach of the law.

4. They help managers make decisions about risk, including identifying who is most at risk and making appropriate adjustments: having an effective and formal risk assessment in place will demonstrate that you have taken appropriate measures to ensure the health and safety of your employees.

Who is responsible for carrying out risk assessments?

It is the responsibility of the employer (or self-employed person) to carry out the risk assessment at work or to appoint someone with the relevant knowledge, experience and skills to do so.

The  Management of Health and Safety at Work Regulations 1999  states that an employer must take reasonable steps ‘for the effective planning, organisation, control, monitoring and review of the preventive and protective measures.’ So even if the task of risk management is delegated, it is ultimately the responsibility of the management within any business to ensure it is effectively completed .

Once hazards have been identified, the associated risks evaluated and steps taken to minimise the potential effects, the next step for an employer is to clearly and effectively communicate the risk assessment process and content to relevant parties.

The process of communication is more effectively achieved if the relevant persons are involved with the risk assessment process at every stage. The person carrying out an activity or task is often best placed to provide details on the associated hazards and risks and should participate fully in the completion of the risk assessment.

Additional training may be required  - such as our British Safety Council Certificate in Risk Assessment  to ensure that a review is completed accurately and effectively.

When to carry out a risk assessment?

A suitable and sufficient risk assessment must be carried out prior to a particular activity or task being carried out in order to eliminate, reduce or suitably control any associated risk to the health, safety and wellbeing of persons involved with (or affected by) the task/activity in question.

Once completed a risk assessment should be reviewed periodically (proportionate to the level of risk involved) and in any case when either the current assessment is no longer valid and/or if at any stage there has been significant changes to the specific activity or task.

Relevant risk assessments should be reviewed following an accident, incident or ill-health event in order to verify if the control measures and level of evaluated risk where appropriate or require amendment.

How to do a risk assessment?

The HSE has recommended a five-step process for completing a risk assessment. This provides a useful checklist to follow to ensure that the assessment is suitably comprehensive. It involves:

• Identifying potential hazards
• Identifying who might be harmed by those hazards
• Evaluating risk (severity and likelihood) and establishing suitable precautions
• Implementing controls and recording your findings
• Reviewing your assessment and re-assessing if necessary.

Step 1. Identify potential hazards

It is important to firstly identify any potential hazards within a workplace that may cause harm to anyone that comes into contact with them. They may not always be obvious so some simple steps you can take to identify hazards are:

• Observation: Walking around your workplace and looking at what activities, tasks, processes or substances used could harm your employees (or others)
• Looking back over past accidents and ill-health records as they may identify less obvious hazards
• Checking manufacturers’ data sheets, instructions, information and guidance
• Consulting with employees (and others) who are carrying out the activities, tasks or processes.

It may be useful to group hazards into five categories, namely physical, chemical, biological, ergonomic and psychological.  

Step 2. Identify who might be harmed by those hazards

Next, identify who might be harmed by those potential hazards. It should also be noted how they could be affected, be it through direct contact or indirect contact. It is not necessary to list people by name, rather by identifying groups including:

• Contractors

Some hazards may present a higher risk to certain groups including children, young people, new or expectant mothers, new employees, home workers, and lone workers.

Step 3. Evaluate risk severity and establish precautions

After identifying any hazards and who might be affected, it is important to evaluate the severity the risk may present (should it occur) and establish suitable and effective controls to reduce this level of risk as far as is ‘reasonably practicable’.  This means that everything possible is done to ensure health and safety considering all relevant factors including:

• Likelihood that harm may occur
• Severity of harm that may occur
• Knowledge about eliminating, reducing or controlling hazards and risks
• Availability of control measures designed to eliminate, reduce or suitably control or the risk
• Costs associated with available control measures designed to eliminate, reduce or suitably control or the risk

Assessing the severity of a risk requires an evaluation of the likelihood of an occurrence and how substantial the consequences that it may cause. Some factors affecting this evaluation include the duration and frequency of exposure, number of persons affected, competence of those exposed, the type of equipment and its condition, and availability of first-aid provision and/or emergency support.

Step 4. Implement changes and record your findings

If a workplace has five or more individuals, significate findings of the risk assessments are required to be kept either electronically or in writing. Recording your findings on a  risk assessment form  is an easy way to keep track of the risks and control measures put in place to reduce the identified risk. The form includes:

• What hazards were found
• Person(s) or groups affected
• The controls put in place to manage risks and who is monitoring them
• Who carried out the assessment
• On what date the assessment was done.

It is sensible to ensure the risk assessment is proportionate to the activity or task being carried out and this can often be a straightforward process for generic tasks.

Step 5. Review your assessment and reassess if necessary

Employers should periodically review the assessment and if necessary, re-assess any controls in place.

A good guide as to when you may need to review your processes are:

• After any significant change within the workplace or process in question
• After an accident or ill-health incident has occurred
• After near-misses have been reported.

Forgetting to review your risk assessment is easy, especially when trying to run a business. Don't wait until it's too late, set a date to review your risk assessment when you're conducting it and don't forget to add the date to your diary.

Significant changes can happen in businesses and when they do, make sure to review your risk assessment and amend it if you need to. If you or your organisation are planning changes that will happen in the future, ensure a risk assessment review is included.

What documentation do you need?

It is a misconception that risk assessments inherently involve a vast amount of paperwork. It can be as straight forward as completing a basic  risk assessment form  for many generic tasks or activities.

However, employers should make sure they record significant findings including:

• Any hazards identified
• What controls are in currently in place, and information on any further control measures that may be required
• Any individuals that have been identified as being especially at risk.

There is no set amount of time that you are required to retain the risk assessment, but it is best practice to keep it as long as is considered relevant to a particular task or activity.

Risk assessments are an integral part of ensuring the health, safety and wellbeing of everyone within the workplace. The British Safety Council Certificate in Risk Assessment   is a short course recommended for anyone who has to carry out risk assessments or wants to understand the process more fully.

Dynamic vs formal risk assessment

A formal risk assessment involves recording everything associated with the risks of a workplace or environment. Formal risk assessments are likely to be carried out by organisations who have a duty of care to their employees and associates. 

A dynamic risk assessment is the opposite and we complete these subconsciously in every day life. Whenever we take an action, we consider and understand the hazards and risks involved but we don't document the process. For example, before jumping over a wall, we would consider how likely we are to be injured, how that would impact us and what the negative results may be.

Formal and dynamic risk assessments do have something in common, whether its you as an individual or an organisation, we are analysing the potential risks of a situation and using that to inform our decisions.

How to carry out a risk assessment

It is a misconception that risk assessments inherently involve a vast amount of paperwork. It can be as straight forward as completing a basic risk assessment form  for many generic tasks or activities.

Risk assessments are an integral part of ensuring the health, safety and wellbeing of everyone within the workplace. British Safety Council Certificate in Risk Assessment course  is a short course recommended for anyone who has to carry out risk assessments or wants to understand the process more fully.

Find out more

British Safety Council Certificate in DSE Risk Assessment

British Safety Council Certificate in COSHH Risk Assessment

British Safety Council Certificate in Risk Assessment

• Search Search Please fill out this field.

What Is Risk Assessment?

Understanding risk assessment, risk assessments for investments, risk assessments for lending, risk assessments for business.

• Fundamental Analysis

Risk Assessment Definition, Methods, Qualitative Vs. Quantitative

Risk assessment is a general term used across many industries to determine the likelihood of loss on an asset, loan, or investment. Assessing risk is essential for determining how worthwhile a specific investment is and the best process(es) to mitigate risk. It presents the upside reward compared to the risk profile . Risk assessment is important in order to determine the rate of return an investor would need to earn to deem an investment worth the potential risk.

Key Takeaways

• Risk assessment is the process of analyzing potential events that may result in the loss of an asset, loan, or investment.
• Companies, governments, and investors conduct risk assessments before embarking on a new project, business, or investment.
• Quantitative risk analysis uses mathematical models and simulations to assign numerical values to risk.
• Qualitative risk analysis relies on a person's subjective judgment to build a theoretical model of risk for a given scenario.
• While a stock's past volatility does not guarantee future returns, in general, an investment with high volatility indicates a riskier investment.

Risk assessment enables corporations, governments, and investors to assess the probability that an adverse event might negatively impact a business, economy, project, or investment. Risk analysis provides different approaches investors can use to assess the risk of a potential investment opportunity. Two types of risk analysis an investor can apply when evaluating an investment are quantitative analysis and qualitative analysis.

Quantitative Analysis

A quantitative analysis of risk focuses on building risk models and simulations that enable the user to assign numerical values to risk. An example of quantitative risk analysis would be a Monte Carlo simulation . This method—which can be used in a variety of fields such as finance, engineering, and science—runs a number of variables through a mathematical model to discover the different possible outcomes.

Qualitative Analysis

A qualitative analysis of risk is an analytical method that does not rely on numerical or mathematical analysis. Instead, it uses a person's subjective judgment and experience to build a theoretical model of risk for a given scenario. A qualitative analysis of a company might include an assessment of the company's management, the relationship it has with its vendors, and the public's perception of the company.

Investors frequently use qualitative and quantitative analysis in conjunction with one another to provide a clearer picture of a company's potential as an investment.

Other Risk Assessment Methods

Another example of a formal risk assessment technique includes conditional value at risk (CVaR) , which portfolio managers use to reduce the likelihood of incurring large losses. Mortgage lenders use loan-to-value ratios to evaluate the risk of lending funds. Lenders also use credit analysis to determine the creditworthiness of the borrower.

Both institutional and individual investments have expected amounts of risk. This is especially true of non-guaranteed investments, such as stocks, bonds, mutual funds , and exchange-traded funds (ETFs) . 

Standard deviation is a measure applied to the annual rate of return of an investment to measure the investment's volatility . In most cases, an investment with high volatility indicates a riskier investment. When deciding between several stocks, investors will often compare the standard deviation of each stock before making an investment decision.

However, it's important to note that a stock's past volatility (or lack thereof) does not predict future returns. Investments that previously experienced low volatility can experience sharp fluctuations, particularly during rapidly changing market conditions.

Lenders for personal loans, lines of credit , and mortgages also conduct risk assessments, known as credit checks. For example, it is common that lenders will not approve borrowers who have credit scores below 600 because lower scores are indicative of poor credit practices. A lender's credit analysis of a borrower may consider other factors, such as available assets, collateral , income, or cash on hand.

Business risks are vast and vary across industries. Such risks include new competitors entering the market; employee theft; data breaches; product recalls; operational, strategic and financial risks; and natural disaster risks.

Every business should have a risk management process in place to assess its current risk levels and enforce procedures to mitigate the worst possible risks. An effective risk management strategy seeks to find a balance between protecting the company from potential risks without hindering growth. Investors prefer to invest in companies that have a history of good risk management.

• Terms of Service
• Editorial Policy
• Privacy Policy

• Sign up for free
• SafetyCulture
• Risk Assessment
• Hazard Identification and Risk Assessment

Understanding Hazard Identification and Risk Assessment

Learn what hazard identification and risk assessment are, their importance in maintaining safety and efficiency in the workplace, and how you can conduct a comprehensive hazard identification and risk assessment.

What is Hazard Identification and Risk Assessment?

Hazard identification and risk assessment (HIRA) are two processes necessary for maintaining a high level of safety and efficiency in the workplace. These processes aim to identify potential risks and hazards, assess their severity, and put management teams in a better position to put controls and preventive and corrective actions.

During hazard identification , teams inspect workspace and processes with the goal of identifying potential risks to human health and safety. The types of hazards teams may identify vary from organization to organization, but it’s crucial to ensure that the team detects any and all potential threats to your worker’s safety.

On the flip side, a risk assessment is the next step after hazard identification. This is the process of assessing the risks and hazards found during the identification process and determining their severity, likelihood, and other factors. That way, the team can create a comprehensive and effective plan to protect workers and create a better work environment.

Safety is a top priority when managing a workplace. Regardless of whether the company is in the automotive, production, retail, or construction industry, maintaining a certain level of safety to protect your workers is critical. This is why companies must conduct proper hazard identification and risk identification processes, as this will serve as their baseline and foundation for implementing controls, policies, and best practices to protect workers throughout operations.

Safety issues can cause significant harm to an organization. Not only will the organization be liable for damages, but a lack of proper risk assessments may put workers in unnecessary danger, harming their health. So, before creating a safety platform and list of best practices for your organization, make sure that you have performed a comprehensive hazard identification with a risk assessment to build a foundation for safety policies.

Organizations have the freedom to conduct hazard identifications and risk assessments however they deem fit based on the company’s needs and requirements . Some of the methods and approaches companies commonly use for these processes include:

Inspections

This process includes regular workstations, practices, and equipment inspections to uncover potential hazards. Engaging employees in these inspections can provide valuable insights as they are often the ones working in close proximity to the hazards.

Hazard Analysis

This process breaks down each job into specific tasks and identifies potential hazards associated with each task. This method ensures that hazards related to specific job duties are thoroughly examined.

Incident Investigation

Conducting incident investigations , even for near misses, is crucial for organizations. This is because analyzing incidents helps organizations take proactive measures to prevent similar occurrences in the future.

A Step-by-Step Guide to Hazard Identification and Risk Assessment

While exact processes may vary from company to company, here’s what a typical hazard identification and risk identification look like:

Identify Hazards

Hazard identification is the first step in building a safety policy. It’s imperative for organizations to understand and identify all the risks workers and the company face throughout operations.

Evaluate Risks

Once hazards have been identified, the next step is evaluating the risks and conducting a comprehensive assessment. That way, hazards may be ranked based on severity and other factors so managers understand which ones require immediate attention or action.

Build and Implement a Safety Strategy

After ranking and assessing various risks, the next step is building and implementing a safety strategy. These strategies should be based on the prior identification, assessment, and analyses that the team conducted.

Monitor and Review

Safety is a continuous practice for organizations. This is why the last step of HIRA involves monitoring the effectiveness of your controls and reviewing your safety measures to ensure effectiveness. If the team finds any lapses or areas of improvement, corrective actions must be applied immediately.

Create Your Own Hazard Identification and Risk Assessment Checklist

Eliminate manual tasks and streamline your operations.

Conduct Comprehensive Hazard Identification & Risk Assessments with SafetyCulture

Why use safetyculture.

If you’re looking for a tool to help you identify hazards and assess risks in the workplace, SafetyCulture (formerly iAuditor) is one of the most effective platforms available. The platform allows users to create a system for identifying and assessing risks in a uniform manner. That way, all hazards are identified and risks are assessed based on company standards. Some of the ways SafetyCulture aids with the hazard identification and risk assessment process include:

• Ensure uniformity in conducting hazard identification and risk assessment inspections using customized checklists and templates
• Comprehensively document workplace hazards by including photo and video attachments in HIRA reports for transparency
• Allow managers to apply corrective actions instantly by reporting safety issues and hazards during inspections
• Build workflows around the safety practices and procedures that were created based on risk assessments
• Relay best practices and standard procedures for reported hazards to the entire team instantly through Heads Up
• Ensure team members follow safety protocols and best practices with holistic training courses

Leon Altomonte

Related articles

• Layer of Protection Analysis

Discover the key aspects of and strategies for LOPA to effectively evaluate and enhance safety systems in high-risk industries.

• Find out more

• Dust Hazard Analysis

Explore the essential components of DHA, its significance, and the strategies for ensuring industrial safety.

• Reputational Risk

Learn more about reputational risk, why it’s important that businesses properly manage it, and how to effectively implement risk mitigation strategies.

Related pages

• Hazard Assessment Software
• Process Hazard Analysis Software
• EHS Risk Assessment Software
• Integrated Risk Management Software
• Operational Risk Management Software
• Reputation Management
• Environmental Aspects and Impacts
• Safety Improvement Plan Template
• Contract Risk Assessment Checklist
• Point of Work Risk Assessment Template
• 7 Best Risk Assessment Templates
• 5×5 Risk Matrix Template

• Browse Our Solutions
• Business Intelligence
• Implementation & Support
• Incident Management
• Risk Management
• Audit & Inspections
• Contractor Safety
• Chemical Management
• SDS Management
• Behavioural Based Safety
• Asset Register
• Digital Procedural Walkthrough
• Shift Handover
• Regulatory & Compliance
• Training Management
• Microlearning
• EHS Training Content Library
• Environmental Compliance
• Environmental Permit
• Waste Management
• Emission Management
• Occupational Health
• Industrial Hygiene
• Case Management
• Drug & Alcohol Testing
• Ergonomic Assessment
• Psychosocial Management
• Risk Analysis and Control Management
• Emergency Preparedness Response
• Control of Work
• Management of Change
• Permit to Work
• Process Hazard Analysis
• Lockout/Tagout (LOTO)
• Metrics & Materiality
• Regulatory and Compliance
• Business Planning
• Stakeholder Management
• Why Evotix?
• Customer Stories
• Construction
• Manufacturing
• Transportation and Logistics
• Local Authority/Housing
• Energy and Utilities
• Mining and Metals
• Oil and Gas
• Warehousing
• Food & Drink
• Two Bald Guys Talking Safety
• Resource Library
• News & Press
• Events & Webinars
• Work at Evotix
• Book a Demo

5 Types of Risk Assessment & How to Use Them

13 December 2022 - Evotix

Risk assessments aren’t just a ‘nice to have’; in most cases, they’re a legal requirement. In basic terms, a risk assessment identifies risks and hazards in the workplace and determines methods of either mitigating or eliminating them altogether to ensure a safe working environment.  

As we know, hazards come in all shapes and sizes – meaning risk assessments do too. To accurately evaluate the variety of hazards hidden in a workplace, you should use a different type of risk assessment. It’s important to know that different types of risk assessments can often be used alongside one another. Workplace hazards aren’t black and white, so sometimes you may need to mix and match – collating the most relevant parts of each type of assessment into one single risk assessment.    

In this article, we’ll cover the five different types of risk assessments and how you can use them to maintain top-level health and safety standards .   

Stages of a risk assessment    

While there are 5 different types of risk assessment, the stages involved in carrying out each assessment are very similar. A risk assessment should include these 6 steps:   

1. Plan    

Good planning is integral to ensuring you get your risk assessment off to a strong start. Before conducting your risk assessment, consider these four elements noted by OSHA:   

What are you assessing? (A piece of equipment, process or workplace area?)   

What resources do you need to carry out the assessment ? (Tools or equipment?)    

Who is involved? (Workers, managers, supervisors or suppliers?)    

What laws, regulations and internal policies do you need to comply with?     

2. Identify hazards    

This involves a walkthrough of your workspace to identify anything that could reasonably be expected to cause harm. Involving other employees in this stage could be helpful, as they may have noticed things that don’t immediately stick out at you.    

While assessing the workplace, ensure you consider long-term hazards to health (like high noise levels or exposure to harmful substances) and safety hazards.   

Once you’ve identified each hazard, make sure you understand how it could harm someone or the environment – as this will help you identify the most impactful way of managing the risk further down the line.   

3. Evaluate identified risks   

Now that hazards have been identified, it’s time to decide how to handle them.   

Under the OSH Act , employers have a duty to provide workplaces that are free of known hazards that could harm their employees. Comparing what you’re already doing with best practice is the most effective way to do this.    

First, assess the controls you currently have in place and how they’re implemented. Compare these controls against identified best practices to see if there’s room for improvement.   

4. Take action    

Once you’ve identified specific areas for improvement to reduce risks, it's time to act. HSE suggests applying the following principles:    

Try a less risky option (for example, switching to a less hazardous chemical)    

Prevent access to the hazard (such as guarding)   

Organize work to reduce exposure to the hazard (for example, by placing barriers between pedestrians and traffic)    

Issue personal protective equipment (gloves, goggles, etc)   

Provide emergency areas (like first aid or eye wash stations)    

5. Record findings and actions taken    

At this stage, you should write down the risk assessment results and share them across your organization to encourage all employees to put these new actions into practice.     

Write down your results as simply as possible, for example: “ ‘ Fire door blocked: area cleared, staff instructed, weekly checks.”   

While recording your risk assessment findings, you should be able to demonstrate:   

That you've identified the hazards  

That you’ve decided who could be harmed  

How you plan to eliminate/minimize the risks and hazards  

6. Review process     

Workplaces seldom stay the same. New processes could be brought in that present new risks and hazards. That’s why it's important to ensure that you’re regularly reviewing what you’re doing on an ongoing basis and updating the appropriate risk assessment form when needed.    

What are the different types of risk assessment?    

Risk assessments come in many different forms, but here are the five most common:    

Qualitative risk assessment  

Qualitative risk assessments are the most frequently used risk assessments for companies in high-risk industries. Assessments of this kind measure the severity of a risk. In most cases, qualitative risk assessments are used to determine the severity of multiple risks at once. These assessments rely on the perceptions and judgments of an individual—often an expert in the company’s field or a member of management.    

When these assessments are employed, the assessor’s personal experience, observations and interviews are used to gather qualitative data, which are then analyzed with the goal of determining the severity of multiple risks.   

The severity of a risk can be determined using the following formula: impact   describes how severely a risk could negatively affect a project and likelihood describes how often the risk is likely to occur.   

Severity = Impact x Likelihood    

When the information is presented, it is organized either into categories or a graph known as a Qualitative Risk Assessment Matrix. Both schemes are based on severity. Categories are labeled High , Medium , and Low —or, depending on the company’s preferences, Green , Amber , and Red (GAR). In a Qualitative Assessment Matrix, one axis is labeled ‘Impact’ and the other ‘Likelihood,’ and plot points (risks) are charted in according to severity. Presentations allow the company to quickly identify the highest-severity risks.   

When compared to quantitative risk assessments, qualitative risk assessments can often be more practical. These assessments are cheaper and faster and allow for the comparative analysis of multiple risks. They don’t require gathering vast amounts of numerical data; instead, qualitative risk assessments rely only on the judgments of one person. Most importantly, qualitative risk assessments enable companies to invent solutions for the most severe risks quickly and efficiently.   

Quantitative risk assessment   

A quantitative risk assessment involves determining the severity and likelihood of a risk by giving it a number. This type of assessment aims to gauge how much the impact of the risk will cost an organization. Rather than referring to a risk as high, medium or low, a quantitative risk assessment assigns a digit to the risk.    

The main difference between a qualitative and quantitative risk is that rather than being based on a person’s judgment, as a qualitative risk is, a quantitative risk analysis relies on hard data. Another contrast between the two is how each process values risk . While in a qualitative risk assessment, an innocuous risk may be rated “low,” the same risk will be given a low percentage in a quantitative assessment to indicate the possibility of it occurring or causing harm.   

A scenario in which quantitative risk assessments are commonly used is to predict the likelihood of a fire or explosion when using harmful chemicals. Project managers can select one of the following methods for quantitative risk assessment:    

Failure Mode and Effects Analytics (FMEA) - anticipating shortcomings in business processes and coming up with ways to mitigate their impact on customers   

Business Impact Analysis (BIA) - identifies and evaluates impact of natural disasters and sets aside investment in recovery, prevention and mitigation strategies for organizations effected   

Expected Monetary Value (EMV) - this method involves senior management carrying out the following equation: Probability in % of Risk Occurring x Cost of Impact in Preferred Currency    

Results can also be recorded in a risk assessment matrix (or any other form of an intuitive graphical report) to communicate outstanding hazards to stakeholders. Although this method involves the assignment of numbers to the degree of risk, it is technically a qualitative method in that it's based on the assessor’s judgment.   

Generic risk assessment 

Generic risk assessments include assessing a broad range of specific workplace activities. Generic risk assessments are most useful regarding repetitive tasks which are consistent in application for organizations, such as:   

Working in confined spaces   

Working at heights    

Fire emergency responses    

Manual handling    

Use of different pieces of machinery   

Use of display equipment    

Carrying out generic risk assessments in these circumstances often proves useful for large organizations, as the findings can then be applied equally to similar tasks across different areas of the workplace or different sites altogether.   

This can be done, for example, with the act of locking out a piece of machinery commonly used across several areas of a manufacturing site or installing electrical equipment.   

Site-specific risk assessment   

As the name suggests, a site-specific assessment places a particular site, environment and team of employees performing the task under the microscope to ensure everything is running as safely as it should be.    

The main difference between generic and site-specific assessments is that while generic risk assessments place a spotlight on common hazards associated with general activities carried out regularly by employees, such as roofing works, site-specific risk assessments pay attention to hazards that can only be found in one specific location with controls put in place that are very distinct to the risk – for example, valley gutters on a roofing site.   

When you consider here the link between both assessments being carried out on a roofing site, it's easy to see why it often makes sense to follow up an initial generic assessment with a site-specific assessment, as it enables inspectors or senior management to hone in on an area of concern in more detail.   

Other examples of hazards that could be picked up by a site-specific risk assessment that wouldn’t otherwise be recognized by a generic risk assessment on roofing works include potential asbestos from cement roof sheets or glazing rope or trip hazards, including lightning conductors or drain vents.   

Dynamic risk assessment  

A dynamic risk assessment evaluates risks in rapidly changing, uncertain and often high-risk environments. In contrast to formal risk assessments, which are a legal requirement and should be carried out as a precursor to any task being done, dynamic risk assessments are normally carried out by a lone worker when they arrive in a new environment. There may also be circumstances where a person’s regular working environment changes, making generic or even site-specific risk assessments obsolete and presenting the need for a dynamic approach.   

It’s important that the person carrying out a dynamic assessment understands that not every risk can be prepared for because of the nature of these environments. It would be expected that the person conducting a dynamic risk assessment has the experience required to make an informed judgment call if a situation becomes too dangerous – such as delaying a task until safe equipment is sourced.   

An example of a dynamic risk assessment includes a construction worker visiting a new worksite and assessing the hazards he hasn’t seen before, having not been on that site. Not to be mistaken as a replacement for formal risk assessments, dynamic risk assessments are to be carried out alongside them to identify any unknown risks.   

How Evotix can help    

While carrying out risk assessments manually is always an option, it might not be the most efficient way for all organizations to stay proactive regarding hazards and risks. Using software can help streamline the risk assessment process by helping you easily manage large data sets from all different sides of the organization.    

The benefits of utilizing Evotix’s Risk Assessment Software are vast, as it enables you to not only use matrices to ensure high-risk activities stand out so controls can be put in place rapidly, but also lets users track actions to completion so they can ensure controls are implemented and work as intended. With all forms stored in one neat place, the software also enables workers from all areas to easily carry out risk assessments and review the results of each one – ensuring the whole workforce stays in the loop regarding hazards.    

Whether they’re used separately or alongside one another, knowing the different types of risk assessment is key to achieving a safe workplace and happy, productive workforce. Whatever risk assessment process you adopt, ensure your employees are included so they can stay in the loop when it comes to the solutions required to complete tasks safely and efficiently.

Want to learn more about how we can help streamline your risk management processes?

RELATED BLOGS

7 Benefits of Conducting a Risk Assessment

27 October 2022 - Evotix

Risk assessments aren’t just about clipboards and checking boxes; they bring real, irreplaceable value to the workplace by helping identify current and potential hazards and risks in the workplace..

What is a Risk Assessment?

20 October 2022 - Evotix

So first things first, what exactly is a risk assessment?

What is Risk Management Software?

1 November 2022 - Evotix

‘Risk management’ sounds deceptively simple—identify what can go wrong, figure out how to ensure it doesn’t, supress the risk. In reality, there are many types of risk that can affect an organization..

[Trustpilot reviews]