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What is the preferred approach to risk management in the workplace?

  1. Accepting all risks as inevitable

  2. Managing risks through complacency

  3. Identifying, assessing, and mitigating risks

  4. Ignoring risks until they become issues

The correct answer is: Identifying, assessing, and mitigating risks

The preferred approach to risk management in the workplace is to identify, assess, and mitigate risks. This method involves systematically determining potential hazards, evaluating the likelihood and impact of these risks, and then implementing strategies to reduce or eliminate them. This proactive approach is essential for creating a safe work environment because it allows organizations to address potential problems before they escalate into serious incidents. By identifying risks, organizations can focus their resources on the most significant threats to safety and develop policies and procedures tailored to address these specific challenges. Assessment ensures that the risks are prioritized based on their severity and likelihood, allowing for effective allocation of time and resources. Mitigation strategies can include engineering controls, administrative changes, training, and safety equipment, all of which contribute to reducing the risks present in the workplace. In contrast, approaches such as accepting all risks, managing through complacency, or ignoring risks can lead to increased incidents, injuries, or fatalities, as they do not address the underlying dangers associated with workplace activities.