Question

In order to improve safety, it is necessary to mitigate unwanted hazards. What process helps us identify safety issues and classify them in terms of their risk of adversely affecting safety?

O Safety inspection
O Hazard analysis
O Safety Training
O Loss mitigation

Answer 1

Hazard analysis is the process to identify and classify risks for improving safety, where potential hazards are evaluated in terms of their likelihood and impact on safety. Option 2 is correct.

Step-by-step explanation:

The process that helps us identify safety issues and classify them in terms of their risk of adversely affecting safety is Hazard analysis. This process involves a systematic review to identify potential hazards in the workplace or other environments.

Once identified, each hazard is evaluated for the potential impact on safety and the likelihood of occurrence, which then informs the mitigation strategies and prioritization for corrective actions.

Priorities are typically set based on the level of risk, where factors such as imminent danger, fatalities, hospitalizations, worker complaints, and high injury rates among others guide the urgency of inspections and interventions as per OSHA's enforcement efforts.

Furthermore, institutions like insurance companies also engage in risk mitigation practices such as rewarding businesses with lower insurance rates for installing and maintaining safety and fire sprinkler systems, to reduce the risk and prevent fraudulent claims which could be a result of moral hazard.