StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Risk assessment - Essay Example

Cite this document
Summary
Running Head: Risk Assessment Risk Assessment (Name) (University) (Course) (Tutor) (Date) GENERAL INTRODUCTION Risk is the likelihood of a loss occurring through the occurrence of an hazard that can be analyzed and measured into quantities. Its because of risks that men and women are always kept thinking so hard on their safety and the uncertainty of their events and this even makes man very cautious of all the activities that they are always involved in as well as making them consider very careful steps in everything they do…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful
Risk assessment
Read Text Preview

Extract of sample "Risk assessment"

Download file to see previous pages

All the above risks posses a challenge of exposure to risks of loss hence uncertainty and instilled fear in major economic, social and political pillars of the society (Adams,pp 23). Risk assessment on the other hand involves a systematic method of looking at or identifying work and field activities activities, considering all alternatives in relation to what could go wrong in is certainly likely to occur, and deciding on suitable control measures to prevent loss or help to avoid such losses, damage or related injuries in the workplace or work environments.

Risk assessment is also the careful examination of the diverse and numerous factors that can bring about these risks. The Assessment should include the controls required to eliminate, reduce, and attach to cause or minimize the risks (Adams,pp111). REASONS FOR RISK ASSESSMENT Therefore, the need for risk assessment can never be underestimated given that it is the process that will always lead individuals into risk management activities. Risk Assessments are a critical requirement and necessity for most human and businesses organizations (Wisher,pp 155-9).

If you don’t know, or appreciate where the risks are, you are placing yourself as an individual, your employees if any, your customers and your organization or business in danger and all the stakeholders that surround your operations. Therefore to an individual doing business risk assessment is a must thing to ensure minimization of risks and risk related activities, this leads to profit and wealth maximization hence successful business operations. Legal environment and systems surrounding businesses given their countries of operation also forces employers and owners of ventures or businesses must always look into all work involvements that are likely to cause harm in order to decide whether they are doing enough to meet their legal obligations so as to avoid legal risk which result into financial losses as payments are made due to court orders.

In business its always reasonably practicable for employers to meet the legal minimum requirement of operations as laid down by the law requirements of the land or state. The main aim of this should always be to assist reduce the risks as much as is 'reasonably practicable' (Gleason,pp275-7 ). Risk assessment is also meant to help reduce the costs of operating business. This is because when stringent risk control measures are put in place, there would be less payments for insurance premiums hence reduced insurance costs.

Risk assessment also contributes to social well being of the societal members. This because with the psychological feeling of reduced risk comes the peace of mind and this puts in place a peaceful and healthy growing society. PROCEDURE OR PROCESS OF RISK ASSESSMENT Normally, there are no hard or fastened rules as to how risk assessment should be conducted due to the sole reason that each and every organization is unique and very much different from each other. This difference is on the diversified ways in which most organizations and businesses operate, the kinds of businesses in which they are involved which are also not the same and also the laws that govern each and every business (Luhmann,pp236).

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Risk assessment Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved de https://studentshare.org/environmental-studies/1416303-risk-assessment
(Risk Assessment Essay Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/environmental-studies/1416303-risk-assessment.
“Risk Assessment Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/environmental-studies/1416303-risk-assessment.
  • Cited: 0 times

CHECK THESE SAMPLES OF Risk assessment

Risk assessment and Epidemiology

Here in this module we will examine the pathogen that is the cause of such a massive health disaster, and also make an epidemiological risk assessment for the same .... Epidemiology stands for the population as whole rather than separate entities.... In epidemiology the Quantitative methods of assessments are used to illustrate the effect and the cause syndrome for a particular disease....
4 Pages (1000 words) Essay

Making Healthcare Safer - a Critical Analysis of Patient Safety Practices

Inconsistencies in these definitions have made it difficult to conduct large-scale reviews because the outcome variables often have a different meaning depending on the definition used (Masud & Morris, 2001) The risk of falling may be associated with extrinsic and or intrinsic factors.... atient Falls - Fall risk FactorsFactors associated with patients at risk of falling in the acute care setting have been explored, extensively, particularly over the past two decades....
9 Pages (2250 words) Assignment

Risk Assessment and Management

The carcinogenic effect of FA is caused by prolonged regenerative cell proliferation associated with its cytotoxicity, which increases the number of DNA risk assessment and Management 5replications and thus increases the probability of DNA-protein cross-link (DPX)-initiated replication errors (Liteplo and Meek 2003; Speit et al.... hellip; This essay attempts to analyse the processes of project risk management and gives an insight to the development of strategies to overcome the risk factor with the help of data regarding anticipated risk and the assessment of its probabilities....
11 Pages (2750 words) Essay

Limitations in Risk Assessment

easurements of exposure can be very different from estimated exposures based onsource characteristics "(risk assessment and Risk Management in Regulatory Decision-Making, 28)There are two broad types of mathematical models used in exposure assessment: thosethat predict exposure to the agent, and those that predict the concentration of the agent.... He also is writing Against the Gods: The Remarkable Story of risk, to be published by John Wiley & Sons in the fall of 1996....
3 Pages (750 words) Essay

Managing the Risks of Organizational Accidents

Risk management is the process of risk assessment and risk reduction (or control) as argued by Tom Cox et al (2005).... In order to effectively control this, it is treated as a risk within the organization and an analysis on the finance and human resource departments of the organization was conducted. … The risk assessment was conducted using both the primary research and secondary research data in order to identify the consistency in the information....
14 Pages (3500 words) Assignment

Risk Assessment Plan

risk assessment is part of the risk management plan which is a document prepared by project managers for purposes of foreseeing risks, assessing their impacts and formulating a response plan to alleviate them.... risk assessment involves a simple but careful examination of what in… risk assessment plans are not only meant for workplaces, but they are also applicable in homes as well given the fact that hazards exist in homes This paper develops a risk assessment plan for three tasks that relate to hazardous materials management....
3 Pages (750 words) Essay

MasterCard Risk Assessment

Implementing risk assessment methodologies in this case scenario would entail an approach that suits the requirements and culture of the MasterCard Organization.... This particular approach ought to exploit the subsequent discovery of the procedures that allow the MasterCard… The risk assessment method that would be advisable is the MasterCard BRAM (Business risk assessment and Mitigation) program. Utilizing this program would go long way in ensuring MasterCard risk assessment al Affiliation: Implementing risk assessment methodologies in this case scenario would entail an approach that suits the requirements and culture of the MasterCard Organization....
2 Pages (500 words) Essay

Car Workshop Risk Assessment

This term paper "Car Workshop risk assessment" focuses on risk assessment in a car workshop.... In general, the report will identify the principles of risk assessment, legal requirements for the risk assessment, hazards involved, and control measures to be used.... In order to achieve this, it is important to undertake a risk assessment of the workplace in order to identify the hazards involved thus create measures and strategies to minimize or avoid the same....
11 Pages (2750 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us