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7 Simple Steps for Conducting a Risk Assessment

  • Posted By: Francis Akinola
  • Posted on: 2020-10-01
7 Simple Steps for Conducting a Risk Assessment


Risk Assessment is carried out to ensure that risks are managed and controlled through the best possible means in order to protect individuals, the workforce, the building, and the business from risks.

Having outlined the case for COVID-19 prevention for business sustainability, workplace management, household protection, and individual assessment, it is important to highlight the necessary steps every manager should take to control, not just coronavirus, but every risk involved in managing your business. 

Find below the simple steps to take in creating a  professional risk assessment: 

Step 1. Highlight the Hazards

Check for every possible hazard around the building, the people, and individuals 

Hazard is anything that has the potential to cause harm


Step 2. Determine the Likelihood

Determine the likelihood (from 1 to 5) of each hazard in step 1 occurs.

“Likelihood” is a measure of the chance that the hazardous event will occur

Rate "likelihood" as 1 if the hazard is “very unlikely” and 5 if it is “very likely”

Step 3. Determine Severity

Determine the level of severity (from 1 to 5) if the hazard results in harm.

“Severity” is the level of the outcome of the hazardous event

Rate 'Severity" as 1 if potential harm will be “insignificant” and 5 if it will be “very catastrophic”  

Step 4. Calculate Risk

Calculate the actual risk involved by multiplying Step 2 and Step 3

“Risk” is a combination of the likelihood of the hazardous event occurring and the severity of the event

Risk = Likelihood X Severity

Step 5. Evaluate

Make a detailed evaluation of the result by comparing the results obtained in Step 4 with the Matrix below

The Green zone shows that the risk condition is in an acceptable situation and no specific action required.
Orange and Yellow zone shows condition is tolerable but improvements should be made
The red zone shows that the condition is unacceptable and immediate action is required


Step 6   Control

Implement necessary controls of the risks by following the steps of the hierarchy of risk control below: 

Step 7: Review 

A continual review of this process would need to be put in place in order to look for new hazards and to reassess risks by going through steps 1 to 6 above 

If you would like to conduct a COVID-19 risk assessment and prefer to be led through these steps,  you can utilize this platform to do this.

If you would rather need further assistance, you can email us at