Hazards and risks are assessed by considering the likelihood and severity of injury or illness.
Involve workers affected by the hazard or risk; their perception is important – they are exposed to the risk.
Also consider broader information from across your organisation and industry.
The matrix below is one matrix that can be used to assess risk.
Likelihood x severity = level of risk
Energy and effort must go into reducing the risk of high risk hazards that could result in fatalities and permanent injuries and risk scoring them enables you to decide if you can continue work while you decide on controls.
Note that all hazards and risks must be controlled.