Risk Assessment Strategies

Risk assessment strategies are systematic approaches used to identify and evaluate potential risks that could negatively impact an organization or project. They involve determining what could go wrong, the likelihood of it happening, and the potential consequences. Common strategies include qualitative assessments, which rely on subjective judgments and expert opinions, and quantitative methods that use numerical data and statistics. Effective risk assessment helps organizations prioritize risks, develop mitigation plans, and make informed decisions, ultimately enhancing safety and achieving objectives.