Hazard assessment is the process of identifying and evaluating potential risks that could cause harm to people, property, or the environment. This involves analyzing various factors, such as the likelihood of an incident occurring and the severity of its consequences. By understanding these risks, organizations can prioritize safety measures and allocate resources effectively. The assessment typically includes a review of existing safety protocols, workplace conditions, and potential hazards, such as chemical spills, equipment malfunctions, or natural disasters. The goal is to create a safer environment by implementing strategies to mitigate identified risks and ensure compliance with safety regulations.