What is hazard analysis in risk management?

Prepare for the Axonics Entrance Test. Practice with flashcards and multiple choice questions featuring detailed explanations and hints, helping you succeed in your exam!

Multiple Choice

What is hazard analysis in risk management?

Hazard analysis is the systematic process of identifying potential hazards, assessing the risks they pose, and deciding on actions to reduce or control those risks. It involves asking what could go wrong, where it could occur, and how serious the consequences could be, then evaluating how likely those events are to happen and prioritizing safeguards. The goal is prevention: putting in place engineering controls, procedures, or training to minimize harm. For example, in a factory, recognizing that a machine lacks guarding and that spills create slip hazards leads to adding guards and improving housekeeping. The other choices describe insurance pricing, qualitative data collection, or a statistical test for survival analysis, none of which capture the ongoing process of identifying hazards and mitigating risk.

Hazard analysis is the systematic process of identifying potential hazards, assessing the risks they pose, and deciding on actions to reduce or control those risks. It involves asking what could go wrong, where it could occur, and how serious the consequences could be, then evaluating how likely those events are to happen and prioritizing safeguards. The goal is prevention: putting in place engineering controls, procedures, or training to minimize harm. For example, in a factory, recognizing that a machine lacks guarding and that spills create slip hazards leads to adding guards and improving housekeeping. The other choices describe insurance pricing, qualitative data collection, or a statistical test for survival analysis, none of which capture the ongoing process of identifying hazards and mitigating risk.

More practice questions