What is Risk Assessment?
In product and service design, risk assessment is a systematic process of identifying and evaluating potential risks or hazards associated with the design, development, production, and use of a product or service. The goal of risk assessment is to identify potential problems and prevent them from occurring, reducing the risk of harm or injury to users, as well as potential liability for the company.
What is the Risk Assessment process?
The risk assessment process typically involves the following steps:
- Hazard identification: Identify potential hazards or risks associated with the product or service. This may involve reviewing previous incidents or near misses, analysing the design and use of the product or service, and considering any relevant regulations or standards.
- Risk analysis: Analyse the likelihood and severity of each identified hazard, considering factors such as the probability of occurrence, potential consequences, and the number of people who may be affected.
- Risk evaluation: Evaluate the risks to determine which ones require further action. This may involve prioritising risks based on their severity or likelihood of occurrence.
- Risk management: Develop and implement risk management strategies to control, minimise, or eliminate identified risks. This may involve design changes, warning labels or instructions, training, or other measures.
- Monitoring and review: Continuously monitor and review the effectiveness of the risk management strategies and adjust them as needed.
By conducting a risk assessment in product and service design, companies can identify and address potential hazards or risks before they cause harm or injury to users, reducing the likelihood of product recalls, legal liability, and reputational damage.