A Look At The Different Kinds of Risk Assessment Processes-
                     A Look At The Different 
Kofin Rdisk Assessment 
Processes
The risk assessment process is an essential process that every company must 
adhere  to in order to determine the risks that are involved in their operations 
and the ways  that can be followed for mitigating them. The risk assessment 
methods mainly focus  on identifying the risks and hazards associated with the 
business processes. The  methods also help to determine the vulnerable people 
and areas and helps in  deciding on the precautions that can be taken to resolve 
them. Once the major  findings of the risk assessment process have been 
uncovered, the assessment process  can be further reviewed and updated as per 
the necessity.
Here is a look at the types of risk assessment that you should know about.
Qualitative Risk 
Assessment
The most widely used method of risk assessment is of course 
qualitative  risk assessment. This method is frequently used in 
various offices and  workplaces. The method is predominantly 
determined by the personal  expertise and the judgment carried out 
by the risk assessment  professional. Apart from making use of their 
own work experience, they  can also consult other similar 
professionals to make sure that only the  best practices are 
followed.
Quantitative Risk 
Assessment
Quantitative risk assessment procedure is carried out for measuring 
the  potential of risk through the use of numerical values. It is often 
used with  more intense hazards such as nuclear plants, designing 
of aircrafts and  the chemical industry. When quantitative risk 
assessments are carried  out, the assessment professionals make 
use of quantitative techniques  and tools for identifying the hazards 
and also for analyzing and  estimating the intensity of the 
consequences. This process can also be  used for determining the 
possibility of whether the possible hazards can  actually take place 
or not.
Generic Risk 
Assessment
Generic risk assessments are used when it becomes necessary to 
analyze  the possibilities of common hazards associated with any 
activity or task.  Through the process of generic risk assessment, it 
is possible to  minimize tedious effort and paperwork. Such a risk 
assessment process  can be used for considering the hazards and 
problems for some activity  in one single assessment. The activities 
in these cases can be managed  across different worksite areas.
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