BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is an evaluation of identified hazards taking into account the existing controls and defenses
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It is a function of the probability of contact with (or exposure to) a hazard, multiplied by the likely severity of the consequences of that contact or exposure.
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It’s controls are the precautions taken to prevent or reduce the risk of a hazard
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It is one where additional control measures are required to eliminate or reduce the risk of loss
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Detailed explanation-1: -(A) Hazard Identification-this first step in risk assessment consists in collecting data from different sources to determine whether a substance is toxic. It involves gathering and examining data from toxicological and epidemiological studies.
Detailed explanation-2: -Once a substance is suspected of being toxic, the extent and quantification of that hazard is assessed [30]. This step is frequently referred to as a dose-response evaluation because this is when researchers study the relationship between the mass or concentration (i.e. dose) and the damage caused (i.e. response).
Detailed explanation-3: -What are hazards? A hazard is a source or a situation with the potential for harm in terms of human injury or ill-health, damage to property, damage to the environment, or a combination of these.
Detailed explanation-4: -The concept of risk can be simply captured in the equation: “Risk = Hazard x Exposure”. For a hazardous object or situation to become a risk, there must be exposure. For example, a wild and dangerous animal will always represent a hazard, but as long as it remains properly caged it will not represent a risk.