What is the primary goal of risk management?

The primary goal of risk management is to develop programs to protect against identified risks. This involves systematically identifying potential hazards or risks, evaluating their impact, and implementing measures to mitigate those risks to ensure the safety and well-being of individuals and assets. By focusing on proactive strategies, organizations can prevent accidents and reduce the likelihood of incidents occurring, thereby enhancing overall safety.

In contrast, documenting past incidents is often a part of risk management, but it primarily serves a secondary purpose of learning from past events rather than being the main objective. Assessing the financial cost of injuries is important for understanding the implications of risks but does not directly address how to prevent those risks from materializing. Rewarding high-performance athletes is unrelated to risk management and focuses on performance outcomes rather than safety practices.