What is the first step in the risk management process?

The first step in the risk management process is to identify hazards. This step is crucial because it lays the foundation for all subsequent actions in managing risk. By identifying hazards, organizations can recognize potential sources of harm or situations that could cause adverse effects.

This awareness is essential for comprehensively assessing risks. Once hazards are identified, the next steps involve evaluating the risks associated with those hazards, implementing controls to mitigate them, and monitoring outcomes to ensure effectiveness. Without properly identifying hazards, any risk assessment or control implementation would be based on incomplete or inaccurate information, ultimately compromising safety and risk management efforts.