Risk Assessment Example

A risk assessment example refers to a sample assessment or analysis of the different risks associated with a certain situation regarding one’s personal, professional, commercial or financial life. By analyzing the risks related to those circumstances, one can take measures to avoid them or thin of strategies on how to counter them so that the finances, offices, businesses etc are protected. Risk assessment is an important aspect of running a company where one should take the effort to evaluate the management, employees, workplace or building, finances and so on which goes a long way in protecting the interests of the organization and the people working there.

Sample Risk Assessment Example:

The following risk assessment has been made by Williamson Consulting Agency, Ohio

Name of company: Hardwood Inc

Owner name: Jonathan Hartley

Type: Small commercial business establishment

Establishment Year: 2002

Property location: 3322 Rory Lane, Ohio

Objective of assessment: The owner seeks to evaluate the various risks involved in the company’s operations for the well-being of the organization and the people working there. The last assessment took place in 2007 and the company believes in conducting risk assessment periodically to ensure it is protected from any threats.

SWOT analysis:

  • Strengths: The organization has a strong structure and dedicated employees
  • Weaknesses: Faulty electric wiring
  • Opportunities: Can take up small mid-size projects
  • Threats: High in-house expenses

Recommendations:

  • The electric wiring must be fixed to keep with the safety codes
  • Efforts must be made to contain in-house expenses and the surplus capital can be used to invest in new projects or saved to protect the company from an economic slump

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