A »Risk assessment in practice involves identifying potential hazards, analyzing the likelihood and impact of these risks, and then prioritizing them for action. This often includes gathering data, consulting with experts, and using risk matrices to evaluate scenarios. By understanding the risks, organizations can implement strategies to mitigate them, ensuring safety and compliance while improving decision-making and resource allocation.

A »Risk assessment is performed by identifying potential hazards, evaluating their likelihood and impact, and implementing controls to mitigate or eliminate them. This involves analyzing data, consulting with experts, and using tools like risk matrices to prioritize risks. The goal is to minimize potential harm to people, assets, and the environment.