Republic of the Philippines

Pangasinan State University

School of Advanced Studies
San Vicente East, Urdaneta City, Pangasinan

MASTER OF ARTS IN EDUCATION

Major in Educational Management
PROGRAM PROJECT PLANNING AND EVALUATION

Proffesor: Dr. Ramil L. Dacal

Student: Cherry C. Godoy

What is Risk Assessment?

Risk assessment is the identification of hazards that could negatively impact
an organization's ability to conduct business. These assessments help identify
these inherent business risks and provide measures, processes and controls to
reduce the impact of these risks to business operations.

Steps needed to manage risks

Risk management is a step-by-step process for controlling health and safety
risks caused by hazards in the workplace. You can do it yourself or appoint a
competent person to help you.
1. Identify the hazards
The first step in a risk assessment is to identify any potential
hazards that, if they were to occur, would negatively influence the
organization's ability to conduct business. Potential hazards that could
be considered or identified during risk assessment include natural
disasters, utility outages, cyberattacks and power failure.
2. Assess the risks
Determine what, or who, could be harmed. After the hazards are
identified, the next step is to determine which business assets would be
negatively influenced if the risk came to fruition. Business assets
deemed at risk to these hazards can include critical infrastructure, IT
 systems, business operations, company reputation and even employee
safety.
3. Control the risks
Evaluate the risks and develop control measures. A risk analysis
can help identify how hazards will impact business assets and
the measures that can be put into place to minimize or eliminate the
effect of these hazards on business assets. Potential hazards include
property damage, business interruption, financial loss and legal
penalties.
4. Record your Findings
Record the findings. The risk assessment findings should be
recorded by the company and filed as easily accessible, official
documents. The records should include details on potential
hazards, their associated risks and plans to prevent the hazards.
5. Review the controls
Review and update the risk assessment regularly. Potential
hazards, risks and their resulting controls can change rapidly in
a modern business environment. It is important for companies to
update their risk assessments regularly to adapt to these changes.
5 Types of Risk Assessment
1. Qualitative Risk Assessment
This type of risk assessment is based on the personal judgement
and expertise of the assessor, who will often use their own
experience to decide on the risk levels involved. The assessor
will also consult with others carrying out the activity and best
practice guidance to reach their decisions.
2. Quantitative Risk Assessment
The quantitative risk assessment is used to measure risk by
assigning a numerical value. So instead of high, medium, and low,
you could have 3, 2 and 1. Or the scale could be much larger than
This type of risk assessment is more likely to be used with major
hazards, like aircraft design, complex chemical or nuclear plants.
3. Generic Risk Assessment
Generic risk assessments cover common hazards for a task or
activity. The idea behind generic risk assessment is to cut down
on duplication of effort and paperwork. This type of risk
assessment will consider the hazards for an activity in a single
assessment. And be used where that activity may be carried out
across different areas of the workplace or different sites.
4. Site-Specific Risk Assessment
A site-specific risk assessment is a risk assessment completed for
a specific item of work. It takes account of the site location,
environment, and people doing the work
5. Dynamic Risk Assessment
A dynamic risk assessment is a process of assessing risk in an on
the spot situation. This type of risk assessment is often used to
cope with unknown risks and handle uncertainty. People who need to
deal with developing and changing situations will often use
dynamic risk assessments.