Items to Include in a Risk Management Checklist

Items to Include in a Risk Management Checklist

Risk management is a powerful tool for identifying and minimizing hazards that exist in the workplace. Once identified, some of these hazards can be completely eliminated. Clients can use this checklist as a guideline for their company as it reaches compliance, reduces workplace stress and hazards, and increases productivity and profitability. 

Identification of Hazards

Identify the hazards that need to be controlled (situations, locations and physical items that could cause harm to people).

Physical work environment, equipment, chemicals or other substances or structural issues can cause harm to your customers, your workers or visitors. Even excessive noise, fumes, and high or low temperatures can also create unsafe working conditions.

Consult with all employees, as they are the ones who work closely with equipment and machinery that owners may never touch. They know a great deal about their surroundings, and their input is invaluable when it comes to risk management.

Assessment of Risks

Companies must determine how severe each risk is and whether they have any existing control measures that could be effective in minimizing or eliminating it.

With this information, you can determine what action should be taken to control the risk. At this point, you can also prioritize the work ahead. Which risks demand the most urgency? Which ones can wait a while?

Taking Control of the Risks

Creativity is helpful when seeking means by which to eliminate risks. In some cases, a single control may not be as effective as a combination of different controls that work together to minimize the risk. Some risks are easy to control and can be managed right away, while others may take significant planning, brainstorming and strategizing. 

Risk management isn’t a one-time task. Workers change, workplace changes and there is new equipment and technology as time goes on. Therefore, risk management should be an ongoing project. It is smart to schedule assessments on a regular basis to update any new risks and evaluate their progress.

Do not underestimate the value of risk management. Risk management can seem like a burden that is more trouble than it’s worth. However, companies find that when they reduce risk they will save time and money in the future and will not have to deal with accidents and harm valuable employees. If the prospect of risk management feels burdensome, get some help as there risk managing tools available. 

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