What methodology is commonly used for conducting effective risk assessments?

The 5-Step Approach is recognized as an effective methodology for conducting risk assessments because it provides a structured framework that ensures comprehensive identification and evaluation of potential hazards in the workplace.

This approach typically involves:

1. Identifying hazards - Recognizing potential sources of harm or risk within the workplace.

2. Assessing risks - Evaluating the likelihood and severity of harm that could result from the identified hazards.

3. Controlling risks - Determining and implementing suitable measures to eliminate or reduce risks to an acceptable level.

4. Recording findings - Documenting the assessment process, the identified risks, and the control measures in place, which aids in accountability and compliance.

5. Reviewing and updating - Regularly revisiting and revising the assessment as necessary to ensure it remains relevant and effective, particularly after significant changes in the workplace or processes.

This systematic approach ensures that all aspects of risk are considered, fostering a safer work environment through proactive risk management.