Risk assessment management involves conducting hazard identification and risk assessment, implementing, monitoring and reviewing control measures to reduce risks to the health and safety of workers and others.
Risk management is necessary to:
Systematically identify hazards in your workplace that could create health and safety risks and
take reasonably practicable steps to control the risks and monitor the effectiveness of the control measures.
What is a Risk Assessment?
A risk assessment is the second step in the risk management process. Once you have identified hazards in your workplace, you must conduct a risk assessment for each hazard to determine how likely it is that exposure to that hazard will cause harm and the severity of harm that is likely to result.
Is the risk assessment important?
Risk assessment (a relative rating of risks) is included in almost every environmental and safety risk register, but what is its purpose and how important is it? In its simplest application, it is the means of prioritising the work of risk control. In risk management, there are 4 steps in the risk management cycle:
WHAT TO CONSIDER WHEN CONDUCTING A RISK ASSESSMENT
When conducting a risk assessment, consider the following questions:
- What are the likely consequences of the hazard, i.e. what types of injuries or illnesses are likely to result?
- How many people are exposed to the hazard?
- What is the likely severity of any injury, illness or damage?
- How often or how long is the worker exposed to the hazard, for example, intermittently or continuously?
- Does anyone exposed to the hazard have particular characteristics that may increase their risk
- are they inexperienced, do they have ongoing health concerns?
- What risk control measures are already in place?
- If risk control measures are in place, are they sufficient to eliminate or adequately reduce the risk?
RISK ASSESSMENT RATINGS MATRIX
You may have seen this before but the risk assessment ratings matrix can help you to establish a risk rating for each of the hazards you have identified in your workplace.
Risk Assessment Ratings Matrix
Risk = Likelihood (frequency) × Consequence (seriousness)
How is risk calculated?
Most commonly, risk assessments are calculated as the product of "worst-case consequence" and the "likelihood" of that consequence. For safety, another factor, "frequency of exposure", is sometimes included.
The MTA works with a number of employers to conduct risk assessments, if you require further assistance on this matter please contact the MTA’s WR team by clicking here.