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What is risk assessment?

Risk assessment is a review and description of risks and suggestions for risk-reducing measures.

Risk may be the possibility of losing something of value. The value may be linked to people, material, operations, reputation or the environment.

 

One can get to the core of the risk assessment by asking three simple questions:

  • What can go wrong?
  • What can we do to prevent it?
  • What can we do to reduce the consequences if it happens?

 

The risk assessment itself is divided into 3 parts. Each part should be given the same importance.

  1. Planning
  2. Analysis of risk
  3. Evaluation and management of risk

 

At UiB and in the use of the electronic risk assessment system CIM, we combine the probability and consequence of an undesirable incident, to find the degree of risk.