What is the first step in the risk management process?

The first step in the risk management process is identifying hazards. This is crucial because without recognizing the potential hazards present in any given situation, it becomes impossible to effectively manage them. Identifying hazards involves systematically examining the environment, activities, and any relevant factors to pinpoint anything that could pose a risk to personnel or operations.

This step lays the groundwork for the subsequent phases of risk management, which include analyzing and assessing the identified risks and determining appropriate controls. Neglecting this step would hinder the ability to develop a comprehensive management strategy for risks, making it essential for ensuring safety and operational effectiveness.