Final answer:
Risk assessment is primarily designed to identify possible events that may affect the business or environment by evaluating the likelihood and potential consequences of these events. It plays a role in environmental management, predicting the behavior of invasive species, and decreasing bias in the criminal justice system through risk assessment instruments.
Step-by-step explanation:
Risk assessment is a crucial process in various domains, including business, ecology, public health, and the criminal justice system. The primary function of risk assessment is to identify possible events that may affect a business or environment and evaluate both the likelihood of these events occurring and their potential consequences.
It is important to note that while risk assessment can be a powerful tool, it can also perpetuate existing disparities if not carefully implemented. Furthermore, risk analysis techniques are relevant not only in business but are increasingly important in global concerns such as environmental management and climate change.