- Step 1: Identify the Risk. The first step is to identify the risks that the business is exposed to in its operating environment. ...
- Step 2: Analyze the Risk. ...
- Step 3: Evaluate or Rank the Risk. ...
- Step 4: Treat the Risk. ...
- Step 5: Monitor and Review the Risk.
What are the 5 areas of risk management?
- Step 1: Identify the Risk. The first step is to identify the risks that the business is exposed to in its operating environment. ...
- Step 2: Analyze the Risk. ...
- Step 3: Evaluate or Rank the Risk. ...
- Step 4: Treat the Risk. ...
- Step 5: Monitor and Review the Risk.
What is the fifth of the five steps to risk assessment?
Decide who might be harmed and how. Evaluate the risks and decide on control measures. Record your findings and implement them. Review your assessment and update if necessary.2013-01-21
What is the 5 step process of risk assessment?
Identify the hazards. Decide who might be harmed and how. Evaluate the risks and decide on control measures. Record your findings and implement them.2013-01-21
What are the steps in risk management process?
- Identify the risk.
- Assess the risk.
- Treat the risk.
- Monitor and Report on the risk.