List the five steps of Risk Management in order.

• A. Identify hazards; Assess hazards (likelihood and severity); Implement controls; Develop controls; Supervise and review.
• B. Assess hazards; Identify hazards; Develop controls; Implement controls; Supervise and review.
• C. Identify hazards; Assess hazards (likelihood and severity); Develop controls and make risk decisions; Implement controls; Supervise and review.
• D. Identify hazards; Assess hazards; Develop controls; Implement controls; Review.

Answer: (C)

The sequence starts with identifying every potential source of harm, because you can’t manage risk if you don’t know what could cause problems. Once hazards are listed, you evaluate each one by considering how likely it is to occur and how severe the impact would be. This gives you a clear sense of which hazards pose the biggest risk.

The next phase is to develop controls and make risk decisions. This means designing actions to reduce or eliminate risk and deciding which risks you will mitigate, accept, or transfer. Making these decisions while you develop controls ensures you choose measures that actually address the most significant risks before any action is taken.

After deciding on the controls, you implement them—putting the chosen safety measures and procedures into practice. Finally, you supervise and review to verify that the controls work, to catch any changes or new hazards, and to update the plan as needed.

Other options fail to match this flow: some place implementation before deciding what to do, which can lead to applying the wrong treatments; some start with assessing hazards before identifying them, which isn’t logical; and some omit the explicit risk-decision step, which is essential to justify and guide which controls to use.