The three primary components used in a risk assessment are hazard identification, frequency analysis (or probability assessment), and consequence analysis (or severity assessment). Hazard identification is the process of identifying potential sources of harm or danger. This involves systematically examining all aspects of an operation or activity to identify anything that could cause injury, illness, or damage. Frequency analysis involves estimating the likelihood or probability of each identified hazard occurring. This can be based on historical data, expert judgment, or other relevant information. T....
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