A Risk is the likelihood and severity of harm from exposure to a potential source of harm - a hazard. For example, risk is the chance of an incident happening that causes harm, loss of life or damage to property/environment.

That potential source of harm is referred to as a Hazard.  The iceberg was the Hazard. The likelihood of the Titanic hitting it combined with the severity of harm from hitting is what makes up the Risk.

A Risk can therefore be defined as the product of the multiplication of the Likelihood (L) of that incident occurring and the Severity (S) if it:

RISK= LIKELIHOOD x SEVERITY

Green (results 0 to 4) indicates that there is a minor risk not requiring immediate action, but that the risk
must be monitored.
Yellow (results 5 to 14) indicates that there is a medium risk requiring further assessment and the
introduction of additional risk controls before the work can be undertaken safely.
Red (results 15 +) indicates that there is a high risk requiring further assessment and the introduction of
additional risk controls before the work can be undertaken safely.

To assist removing or reducing to an acceptable level the risk associated with performing a work, a risk assessment is carried out.  

A Risk Assessment is a process by which hazards to personnel and/or environment are identified and assessed. Controls & measures are then put in place to eliminate, isolate or mitigate the risk of harm to an acceptable level. Risk Assessments are an important tool in ensuring Safe Working Practices are being followed.

We conduct Risk Assessments in our daily lives, often without even realising it. Whether we are deciding to cross a road, or to eat food that was prepared several days ago, these are instances where we evaluated potential risks and make informed decisions.

Often we put in place control measures without realizing, for example by waiting for the green man symbol before crossing.

A risk assessment doesn’t always need to be a formal, written exercise. However, in some cases the tasks are so complex or the risks so great that it’s important we use a tool to assist in the identification of hazards and control measures. The Company has provided a Risk Assessment tool for this purpose, which can be found in this system and in SMMS. 

Hazards can be identified in a number of ways for example by walking through your workplace, you can inspect it for potential hazards using own experience and common sense as reference; by reviewing past records of injuries and incidents (including near misses), which have taken place during similar works; by past firsthand experience or through documentation such as MSDS or manufacturer instructions.
Some hazards such as mechanical hazards, noise, or toxic properties of substances are inherent in the work process. Other hazards may result from machine or equipment failures and misuse, control or power system failures, chemical spills, and structural failures.

The following table lists some types of hazards with examples of injuries / harm: 

To control and reduce the risk, you can either reduce (or eliminate completely) the likelihood of the incident occurring and/or the severity of the incident. There are several ways of controlling risks. The below controls are arranged hierarchically where the control measures at the top of the hierarchy are more effective:

•Elimination means completely removing the hazard or risk of exposure to the hazard, for example removing a noisy machine from the work area or redesigning dangerous work processes to eliminate the risk;
•Substitution means replacing the hazard with a non-hazardous alternative, for example using a non-flammable solvent in place of a flammable one;
•Engineering Control means to physically modify or improve equipment or installations, for example enclosing a noisy piece of equipment or installing exhaust ventilation.
•Administrative Control means introducing work practices, which limits the exposure of the employee to the hazard, for example. reducing the period of exposure, rotate the hazardous jobs to different crew.

Personal Protective Equipment (PPE) like hard hats, safety goggles and hearing protection etc. is a control that works best in combination with other controls described above. PPE protects against but does not eliminate the risk or hazard and therefore when used by itself remains a high-risk control.

When the control measures are applied the residual risk rating need to be calculated and reassessed, prior Approval and commencement of work.

Refer to the company Risk Assessment form “FS01”. 

A Risk Assessment must be carried out before starting any activity onboard.

However, not all risk assessments need to be in written form.

Risk Assessments need to be in written form before starting the work for at least the following activities:
• Any work carried out at height
• Any work carried out overside
• Any work carried out in confined space
• Any activity involving hot work carried out outside the Engine Room Workshop
• Any bunkering activity
• Any activity involving waste oil
• Any work involving divers
• Any work which involves personnel being in the lifeboat or rescue boat while it is being launched or recovered
• Cargo operations involving the risk of a release noxious vapours
• Any other Operation where there is a possible, likely, or certain risk of harm
• Any other Operation where the person in charge of the activity, or the Master, deems a written risk assessment necessary


Periodical Risk Assessments must be conducted for the following operations:
• Mooring/Unmooring
• Operating with tugs
• Anchoring
• Loading /discharging operations
• Connecting/disconnecting cargo hoses
• Crane operations
• Use of machines/ power drill/grinder
• Pressure testing
• Galley hygiene

If the Shipboard or Ship Management Team feels that the conditions of operations have
changed, the periodical risk assessment must be reviewed. 

Each ship has been provided with a comprehensive Risk Management Training Manual. This manual contains in-depth information on the Risk Assessment process, identifying hazards, implementing control measures and guidelines for recording them. The manual includes sample filled Risk Assessments forms, IACS & USCG guidelines.