What is the first step in the risk management process?

The first step in the risk management process is assessing risks. This initial phase involves identifying potential hazards and evaluating the likelihood and impact of these risks on operations or activities. During this step, you gather relevant information and analyze the environment to understand the various factors that could pose threats to safety or mission success. By thoroughly assessing risks, you lay the groundwork for developing effective strategies and safety measures that can be implemented in subsequent steps.

Recognizing and analyzing risks upfront is crucial for making informed decisions and prioritizing actions to mitigate or eliminate those risks, which ultimately contributes to a safer and more effective operational environment. The focus during this stage is on understanding the context and nature of risks, enabling the team to effectively address them in later phases of the risk management process.