• Analyse risks:
– Identify existing controls and whether they
mitigate or eliminate the hazards/risks;
– Determine the consequences of the issues
identified;
– Determine the likelihood of the issues
identified actually occurring; (likelihood
is a function of the probability of the
consequences occurring and the possibility
of the subject being exposed to those
consequences at a particular location); and
– Risk is a function of the consequences of
the hazard and the likelihood of it happening
(risk = consequence x likelihood).
• Evaluate the risks:
– Compare against criteria; and
– Set priorities.