What is the first step in the risk management process?

The first step in the risk management process is to identify the hazards. This stage is crucial because it lays the foundation for the entire risk management process. By identifying potential hazards, individuals and organizations can become aware of what risks they might encounter in their operations or activities.

This step involves a thorough examination of the environment, tasks, and any elements that could pose a threat to safety or success. Once hazards are identified, it allows for the subsequent steps—assessing those hazards, implementing controls, and finally supervising and evaluating the processes involved—to be carried out effectively. Identifying hazards ensures that subsequent actions are addressed appropriately and efficiently to mitigate any risks.