In a business where there are profits and losses, there are risks involved too. But some risks can harm your business and business organization and that you want to avoid at all cost. A smart business manager is the one who assesses the risks beforehand and keeps a plan all set in case a contingency arises. As an owner and a business manager, you must:
- Identify what can be the cause of any illness for your business? (hazard)
- How dangerous the situation can be, and whether can someone be harmed? (risk)
- What can be the precautions that you can take to avoid these? (control)
There can be different types of risks in a business, and managing all of them individually and taking control of them can get too overwhelming. For this, a risk assessment template is a perfect solution for you. You can write what type of risk you can face, who will be in charge of it, what can be done, what will be required, etc., all at one template. You can have the details like what, whom, and when all in one place.
What are the Steps needed to Manage the Risk?
Here are the steps every organization should follow to keep the risks at bay:
1. Identify hazards
You need to look around your organization and see what kind of work people are doing? What time are they doing the work? Is anyone exposed to harmful chemicals? Does anyone feel uncomfortable or threatened? Do your employees/workers need any protective gear for some particular type of work? Etc. Also, look at your records for any miss happenings.
2. Assessment of risk
Now you need to ask yourself whether someone would be harmed from all those risks or not. If yes, what kind of harm can be done and to whom, what will be done in that condition and who will be responsible for taking the corrective measures?
3. Control the risks
Now is the time to take corrective precautions to avoid the risks as much as possible. You need to think of how to execute the planning for controlling the risks. If required, you may have to change some policies or redesign your working structure to protect your business and your employees also who are also a part of the organization.
4. Record the findings
After executing controlling measures and redesigning the framework, you should record all the changes brought with the measures and note down your findings for future use. You can use a risk assessment form or template for this to avoid confusion.
5. Review the findings
Finally, review & analyze what was done, and if the results are not up to the mark, think about any other work that could have been done and start planning again.
Have your own free risk assessment template on Stackby and be free from the work of managing every little information regarding the risk assessment and who is in charge.