What are the 4 types of risk?

1 Answer:
  • JJ Ng
    The main four types of risk are:
    • strategic risk - eg a competitor coming on to the market.
    • compliance and regulatory risk - eg introduction of new rules or legislation.
    • financial risk - eg interest rate rise on your business loan or a non-paying customer.
    • operational risk - eg the breakdown or theft of key equipment.

  • What are the 4 main stages of a risk assessment?

    The four stages of risk assessment are as follows.
    • 1: Hazard and risk identification.
    • 2: Identify those at risk.
    • 3: Complete risk assessment plan.
    • 4: Risk assessment review and update.
    18 Apr 2017
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  • What is a take 5 booklet?

    The Take 5 is a personal risk assessment tool that prompts you to take five minutes to plan how to do a job safely. In other words: Take 5: Stay Alive. Do a Take 5 before starting any task and during the task when there is a change in conditions (e.g. starts to rain).
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  • Who is responsible for taking every precaution reasonable under the circumstances for the protection of the workers?

    supervisor
    The only duty of a supervisor that's included in the Occupational Health and Safety Act is the duty to “take every precaution reasonable in the circumstances” to protect workers. The OHSA requires the employer to appoint a "competent person" as a supervisor.29 Mar 2022
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  • What are the 3 areas of risk management in healthcare?

    The Purpose of Risk Management in Healthcare
    • Financing, insurance, and claims management.
    • Event and incident management.
    • Clinical research.
    • Psychological and human healthcare.
    • Emergency preparedness.
    Read More

  • How many types of risk assessments are there?

    two types
    The two types of risk assessment (qualitative and quantitative) are not mutually exclusive. Qualitative assessments are easier to make and are the ones required for legal purposes.
    Read More

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