While many individuals are involved in the process and many factors come into play, performing an effective risk assessment comes down to four core elements: risk identification, risk analysis, risk evaluation and risk communication.

Identifying potential hazards. Identifying who might be harmed by those hazards. Evaluating risk (severity and likelihood) and establishing suitable precautions. Implementing controls and recording your findings.

These principles are: avoid risk wherever possible; carry out risk assessment to evaluate risks that cannot be avoided; take action to reduce risks to ALARP (as low as reasonably practicable) levels; reduce risks at source wherever possible.

How to do a risk assessment? Identifying potential hazards. Identifying who might be harmed by those hazards. Evaluating risk (severity and likelihood) and establishing suitable precautions. Implementing controls and recording your findings. Reviewing your assessment and re-assessing if necessary.

KCSIE groups online safety risks into four areas: content, contact, conduct and commerce (sometimes referred to as contract). These are known as the 4 Cs of online safety.

Organizational policies and procedures for risk management are player guidelines that tell each employee what the company they work for expects of them, and what the company will do to protect them from harm while they are at work.

There are options on the tools and techniques that can be seamlessly incorporated into a business' process. The four common risk assessment tools are: risk matrix, decision tree, failure modes and effects analysis (FMEA), and bowtie model.