Risk Evaluation

Risk evaluation and Emergency Planning allow you to determine the significance of risks and then decide whether to accept a specific risk or planning actions to prevent or minimize it.


Risk evaluation is defined as:

“Determination of risk management priorities through the establishment of qualitative and/or quantitative relationships between benefits and associated risks.”

Risk evaluation is an attempt to estimate what risk actually means to people and assets concerned with or affected by the risk. A major part of this evaluation will be the exposition to comprehend risks. Risk evaluation has proved extremely important in the implementation of decisions arising from risk assessment.

  • When risk evaluation and management procedures are carried out by regulators or the government, the aim is to produce acceptable risk levels.
  • When an individual company carries out a risk assessment, in the determined standards, risk levels will be determined which are acceptable to the company. These may have reference to societally acceptable levels or may be based on a formal risk-cost-benefit approach.

Major Approaches To Evaluate Risk

The three major approaches to acceptable risk decisions are:

  1. Professional judgment: where technical experts contrive solutions.
  2. Bootstrapping: where historical precedent guides decision making.
  3. Formal analyses: where theory-based procedures for modeling problems and calculating the best decision are used.

General Criteria To Evaluate Risk

The five-point criteria provide the decision-maker with the essential information and clues to understand the situation and determine what should be done next.

  1. Assessing Risk Factor
  2. Development & Interventions
  3. Relevance & Efficiency
  4. Effectiveness & Impact
  5. Sustainability

These are general criteria that should be used as a basis for developing evaluative questions through the full range of evaluation topics.

7 Steps To Evaluate Risk:

  1. Identification: helps to comply with an initiative as an opportunity to express all the things that may go wrong.
  2. Probability and Impact: This can be done as a rough appraisal as high, medium, or low.
  3. Moment of Risk:  listing out the specific conditions that are more likely to cause the risk can avoid or minimize the impact of risk.
  4. Treatment: when a risk is accepted, mitigated, shared, or avoided; the probability and Impact need to be re-evaluated.
  5. Secondary Risk: Evaluate risks caused by treatment such as avoiding or mitigating risks that can result in another risk.
  6. Residual Risk: Evaluation of probability and Impact of remaining risk including secondary risk after treatment.
  7. Monitoring and Review: This is the process of regular identification of new risks and overseeing the implementation of risk treatment and results.


“Risk Evaluation And Emergency Planning” is an integral part of the overall loss control program and is essential for any organization.

Why Do You Have An Emergency Plan?

  • An emergency plan promotes safety awareness and shows the organization’s commitment to the safety of workers.
  •  Since emergencies will occur, pre-planning is necessary. An urgent need for rapid decisions, a shortage of time, and a lack of planning can lead to disorder during an emergency.
  • While planning for an Emergency you may discover unidentified hazardous conditions that would trigger an emergency situation and help to eliminate them.
  • The planning process may reveal deficiencies that can be corrected before an emergency occurs.
  • The lack of an emergency plan could lead to severe losses such as multiple casualties and possible financial collapse of the organization.
  • Circumstances in an emergency mean that normal channels of authority and communication cannot function with the required efficiency. The stress of the situation can lead to poor judgment resulting in severe losses. A well-planned, well-organized emergency response plan will help to eliminate these issues.

 Objectives of Risk Evaluation And Emergency Planning

    • An emergency plan specifies procedures for handling sudden or unexpected situations.
    •  To be prepared to avoid casualties and injuries.
    • To be prepared to minimize damage to buildings, stock, and equipment.
    • To be prepared to protect the environment and the community.
    • To be prepared to speed up the continuation of normal operations

Factors To Determine What Procedures Are Needed In An Emergency

  • Nature of emergency.
  • Degree of emergency.
  • Size of organization.
  • Capabilities of the organization in an emergency situation.
  • The immediacy of outside aid.
  • The physical layout of the premises.
  • Natural hazards, such as floods or severe storms, often provide prior warning. The plan should take advantage of such warnings

The Elements Of The Emergency Plan

The emergency plan includes:

  • All possible emergencies, consequences, required actions, written procedures, and the resources available.
  • Detailed lists of emergency response personnel including their cell phone numbers, alternate contact details, and their duties and responsibilities.
  • Floor plans.
  • Large-scale maps showing evacuation routes and service conduits.
  • The plan should provide staff members with separate written instructions about their particular emergency response duty. At least one of them must be on the site at all times when the premises are occupied. The extent of authority of these personnel must be clearly indicated.
  • One individual should be appointed and trained to act as an Emergency Coordinator as well as a “backup” coordinator. However, personnel on-site during an emergency are key in ensuring that prompt and efficient action is taken to minimize loss.

External Organizations That May Be Assist (With Varying Response Times) 

  • Fire departments.
  • Mobile rescue squads.
  • Ambulance services.
  • Police departments.
  • Telephone companies.
  • Hospitals.
  • Utility companies.
  • Industrial neighbors.
  • Government agencies.

The Facts “Must Be Considered” While “Risk Evaluation And Emergency Planning”

Identify evacuation routes and alternate means of escape make these known to all staff; keep the routes unobstructed.

Specify safe locations for staff to gather for head counts to ensure that everyone has left the danger zone. Assign individuals to assist employees with disabilities.

Carry out treatment of the injured and search for the missing simultaneously with efforts to contain the emergency.

Provide alternate sources of medical aid when normal facilities may be in the danger zone.

Ensure the safety of staff and/or the general public first, and then deal with other situations.

The plan should also include a process for damage assessment, salvage, and protection of undamaged property and clean-up following an incident

In all situations, communication, training, and periodic drills will help make sure the plan is executed well.

Risk Evaluation And Emergency Planning a decisive and initial measure to avert hustle and bustle at the time of actual emergency and to build up faith in the organization.

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  • Excellent Institute

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    • Thank You 🙂

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