What is the first step in developing a risk management plan?

The first step in developing a risk management plan is compiling a list of operations and duties. This initial step is crucial as it establishes a clear understanding of the activities and responsibilities involved in the specific context of the operations being analyzed. By identifying the operations and their corresponding duties, you gain insight into where potential hazards may arise and what consequences might be associated with those activities. This foundational knowledge is essential for the subsequent steps in the risk management process, which involve assessing hazards, brainstorming potential consequences, and ultimately developing strategies to mitigate risks.

Understanding the operations and duties sets the stage for effectively documenting hazards and considering unfavorable scenarios, which follow after this initial compilation. Without a thorough inventory of operations, it becomes difficult to properly analyze risks or identify strategies to minimize them efficiently.