Risk analysis vs. risk assessment
Risk Analysis:
• analytical process to provide information regarding undesirable events;
• process of estimating probabilities and expected consequences for identified risks.
• detailed examination including risk assessment, risk evaluation and risk management alternatives, performed to understand the nature of unwanted outcome;
A process undertaken to deal with matters which pose a potential danger, managed according to certain standard procedure and that involves:
• Hazard Identification
• Risk Assessment
• Risk Management
Risk Assessment:
The process of evaluating the risk resulting from a hazard.
Risk assessment is only part of the whole process of risk analysis.
