Risk assessment is the process of identifying, analyzing, and evaluating potential risks that could negatively impact an organization or project. It involves examining various factors, such as the likelihood of an event occurring and the potential consequences if it does. This helps organizations prioritize risks and develop strategies to mitigate them. The goal of risk assessment is to make informed decisions that enhance safety and efficiency. By understanding risks, organizations can implement measures to reduce their impact, ensuring better preparedness for unexpected events. This process is essential in fields like healthcare, finance, and construction, where risks can have significant implications.