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Hazard assessment uses four degrees of severity: catastrophic, critical, marginal, or negligible.
The five steps of RMidentify the hazards, assess the hazards, develop controls and make risk decisions, implement controls, and supervise and evaluateare used across the Services to help them operate as a joint force. RM must be embedded in Army culture.
(1) Identify the hazards. (2) Assess the hazards. (3) Develop controls and make risk decisions. (4) Implement controls.
Catastrophic (I) and Likely (B) form RAC IB, which denotes an Extremely High Risk. Moderate - Frequent (RAC IIIA) is a High Risk. Critical - Seldom (RAC IID) is a Medium Risk, and Negligible - Likely (RAC IVB) and Negligible Unlikely (RAC IVE) are both Low Risks.
The five steps in risk assessment are identifying hazards in the workplace, identifying who might be harmed by the hazards, taking all reasonable steps to eliminate or reduce the risks, recording your findings, and reviewing and updating your risk assessment regularly.
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Internal controls fall into three broad categories: detective, preventative, and corrective. Several internal control frameworks exist to facilitate the implementation of regulatory compliance obligations and enterprise risk management (ERM) best practices.
PRINCIPLES OF RM Accept no unnecessary risk. Accept risk when benefits outweigh cost. Make risk decisions at the right level. Anticipate and manage risk by planning.

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