Risk Assessment and Management IssueThe term risk assessment refers to an objective assessment of risks in which assumptions and uncertainties are clearly considered and presented . On the other hand, with regard to risk management, in most cases it has encountered difficulties in measuring the two magnitudes in which risk assessment is concerned (Muzzi, Armando and Augusto Panà, 2000, pp. 99-103). Indeed, the potential for an anticipated loss and the probability of it occurring are quite difficult to quantify. This leaves a huge margin of error in quantifying these two concepts. Over the years, the concept of risk management has proven to be an integral part of the business world as well as a necessity in compliance with national legislations. Over time, they are known to be an integral part of determining the risk that prevails in the workplace. What should be noted is that the law does not make any provisions to eliminate all risks. What the law provides is protection up to a reasonable and achievable level. To this end, it is important to carry out a risk assessment which would assess the factors that may harm people in the workplace. This would be the only way to make a conclusive assessment and/or conclusion as to whether all necessary precautions have been taken to avoid such damage. The risk assessment is carried out through a five-phase process. These are namely; identification of hazards, determination of people at risk and the risks involved, risk assessment and decision on precautions, recording and implementation of precautionary measures and finally carrying out examinations and taking possible precautionary measures. paper ......benefit analysis. This would involve a comparison of risk and how it relates to benefits. If the profits were lower, one would have to forgo the risk and choose to mitigate it. Finally, public opinion should be sought on the issue. Indeed, despite all the factors taken into consideration, the audience is decisive in how the business will develop. Works Cited Brucker, AD and Dieter Hutter. “Information Flow in Disaster Management Systems.” 2010International Conference on Availability, Reliability and Security. IEEE, 2010. 156-163. Champion, J. “Risk Assessment.” A five-step process. British Journal of Perioperative Nursing, Journal of the National Association of Theater Nurses 10.7 (2000): 350-353. Print.Muzzi, Armando and Augusto Panà. “Risk assessment and management. » Igiene E SanitaPubblica 2000 99-103.