Virtual Risk Assessment

Health and Safety for Properties

Risk assessments spot potential problems, but a business-impact analysis identifies how these problems might affect a particular business. Since these two tasks go hand-in-hand, it is useful to describe them together. These are the three steps of a risk assessment and business impact analysis:

Identify Hazards:

•  This step consists of simply listing which business risks a particular company might face. These could include acts of nature, fires, mechanical breakdowns, and even cyber-attacks.

Identify assets that could be at risk:

• This step consists of identifying which business or external assets might be damaged by one of the hazards listed above. Some common examples are employees, customers, buildings, a business’s reputation, and the environment.