In RM, what is the purpose of the 'Assess hazards' step?

• A. Immediately implement all possible controls without analysis.
• B. Identify hazards and assign priority based on probability and impact.
• C. Wait for incidents to occur before evaluating risk.
• D. Identify hazards only after incidents occur.

Answer: (B)

Assessing hazards in risk management is about spotting potential dangers and judging their significance. You identify what could cause harm and evaluate how likely it is and how severe the outcome would be. By weighing probability and impact, you assign a priority to each hazard so the team can address the most significant risks first. This proactive, analytical step ensures resources and preventive measures target the issues that would cause the greatest harm, rather than reacting after something goes wrong. So the purpose is to identify hazards and rank them based on how likely they are and how severe their consequences would be.