When implementing a Safety Management System (SMS), one of the most critical components to develop is a Flight Risk Assessment Tool (FRAT). Because every flight has some level of risk, it is critical that pilots are able to differentiate, in advance, between a low risk flight and a high risk flight, and then establish a review process and develop risk mitigation strategies. A Flight Risk Analysis Tool enables proactive hazard identification, is easy to use, and can visually depict risk. It is an invaluable tool in helping pilots make better go/no-go decisions and should be a part of every flight.