What is the purpose of conducting a risk assessment?

Conducting a risk assessment is primarily aimed at identifying hazards within a workplace and implementing control measures to reduce the associated risks. This process involves systematically evaluating potential hazards that could cause harm to employees, property, or the environment. Once hazards are identified, risk assessments allow organizations to determine the likelihood and consequence of those hazards and to prioritize them for action. By implementing appropriate control measures, organizations can enhance safety and health within the workplace, ultimately working towards minimizing the potential for accidents or incidents.

The other options, while relevant to safety and health management, do not capture the primary goal of a risk assessment. Reducing operational costs may be a secondary benefit of improved safety practices, as fewer accidents typically lead to lower costs related to healthcare and legal liabilities. Training employees on safety is crucial, but it is often a result of the insights gained from conducting risk assessments. Fulfilling regulatory requirements is important for compliance but is not the fundamental purpose of a risk assessment itself; the assessment process goes beyond mere compliance by aiming for proactive safety improvements.