List the five steps of Risk Management.

List the five steps of Risk Management.

• A. Identify hazards; Assess hazards; Develop controls and make risk decisions; Implement controls; Supervise and evaluate
• B. Identify hazards; Eliminate hazards; Implement controls; Train guards; Audit
• C. Plan; Do; Check; Act; Report
• D. Recognize risks; Prioritize; Apply changes; Monitor; Close out

Answer: (A)

The main idea here is the five-step risk management process used to systematically reduce hazards and manage risk. The best option aligns exactly with that flow: identifying hazards, assessing hazards, developing controls and making risk decisions, implementing those controls, and then supervising and evaluating to ensure they work. Identify hazards means spotting all potential sources of harm. Assess hazards involves evaluating the risk by considering both how likely the hazard is and how severe the consequence could be. Develops controls and make risk decisions is about choosing appropriate measures and deciding whether the residual risk is acceptable. Implement controls puts those measures into action. Supervise and evaluate covers monitoring effectiveness and making adjustments as needed over time. The other options mix concepts that aren’t part of the standard five-step sequence. For example, eliminating hazards and training guards are activities that may occur within risk control, but they aren’t the formal steps of the process. Some choices reflect broader improvement cycles (like plan–do–check–act–report) or omit explicit risk assessment and decision points, or end with a “close out” step that isn’t part of the established five-step RM framework.

The main idea here is the five-step risk management process used to systematically reduce hazards and manage risk. The best option aligns exactly with that flow: identifying hazards, assessing hazards, developing controls and making risk decisions, implementing those controls, and then supervising and evaluating to ensure they work.

Identify hazards means spotting all potential sources of harm. Assess hazards involves evaluating the risk by considering both how likely the hazard is and how severe the consequence could be. Develops controls and make risk decisions is about choosing appropriate measures and deciding whether the residual risk is acceptable. Implement controls puts those measures into action. Supervise and evaluate covers monitoring effectiveness and making adjustments as needed over time.

The other options mix concepts that aren’t part of the standard five-step sequence. For example, eliminating hazards and training guards are activities that may occur within risk control, but they aren’t the formal steps of the process. Some choices reflect broader improvement cycles (like plan–do–check–act–report) or omit explicit risk assessment and decision points, or end with a “close out” step that isn’t part of the established five-step RM framework.