IOSH Managing Safely Practice Test

A risk assessment is fundamentally a systematic process for identifying, analyzing, and evaluating risks associated with workplace activities and conditions. The correct answer highlights that risk assessments serve as an essential tool for managing serious workplace risks in a manner that is both effective and financially prudent. By properly assessing risks, organizations can determine the potential for harm or loss and develop strategies to mitigate those risks, ensuring a safer work environment while also considering the costs associated with implementing safety measures.

In this context, conducting a risk assessment involves recognizing the hazards present, evaluating the likelihood of these hazards causing harm, and understanding the consequences, all of which inform decision-making regarding safety measures and resource allocation. This approach helps prioritize which risks need immediate attention based on their severity and the feasibility of control measures.

The other options do not align with the primary focus of a risk assessment. A review of employee performance pertains more to individual capabilities and productivity rather than safety risks. A calculation of profit versus loss is primarily a financial analysis, which does not address risk management directly. An evaluation of employee satisfaction is concerned with workplace morale and engagement rather than the identification and mitigation of risks.