What are the Essential Tools of Risk Management?
Risk identification and assessment should be part of the planning and development of all department and unit programs or activities. To assess the risks posed by a program or activity, take the following steps: • Identify the tasks associated with the program or activity. For example, the tasks associated with conducting a lab e xperiment might include traveling to an off-site location, preparing the experiment, conducting the experiment, cleaning up the experiment and disposing any waste. • Identify the hazards associated with each task. A thorough identification of the tasks involved and the hazards they present is very important. Risks that aren’t identified cannot be managed! For example, hazards related to preparing the experiment might include improper set up and lack of appropriate equipment. • Evaluate and select risk management techniques. The goal is to conduct the program or activity in such a way as to reduce the likelihood that something will go wrong and/or reduce the sev
