Risk management involves thinking about what could happen if someone is exposed to a hazard and how likely it is to happen. Hazards are things and situations that could harm a person.
- a person conducting a business or undertaking (PCBU)
- a designer, manufacturer, importer, supplier or installer of plant, substance, or structure
- an officer, such as a company director.
You can follow a step-by-step process to manage risks. This involves identifying hazards, assessing risks, controlling risks, and reviewing control measures.
Risk management helps you respond to change and improve your business. Eliminating and controlling risks in your workplace can:
- prevent workplace injuries and illnesses
- improve the health, wellbeing, and capacity of your workers
- improve quality and productivity of work.