Risk Management Fundamentals

This video dives into the core principles of risk management, focusing on three key areas: identification, analysis, and evaluation. Definitions of key terms like safety, hazard, and risk are explored, clarifying that a hazard is something with the potential to cause harm, while risk is the likelihood of that harm occurring.

The video introduces ISO 31000, describing risk management as a set of coordinated activities to address organizational risks. Through practical examples, it demonstrates how hazards translate into risks and emphasizes the importance of risk assessments in identifying, analyzing, and evaluating these threats. An engaging visual example highlights real-world hazards and their associated risks, making the topic relatable and insightful for safety professionals.