American English

Definition of risk assessment noun from the Oxford Advanced American Dictionary


risk assessment

[countable, uncountable] (business)
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the act of identifying possible risks, calculating how likely they are to happen and estimating what effects they might have, especially in the context of a company taking responsibility for the safety of its employees or members of the public The employer has an obligation to carry out a risk assessment. The insurance representative came to explain the concept of risk assessment. A fire risk assessment will identify all the fire hazards on your premises.
See the Oxford Advanced Learner's Dictionary entry: risk assessment