Define "risk assessment" in a workplace context.

In a workplace context, the definition of "risk assessment" refers specifically to the systematic evaluation of potential risks that could harm employees, property, or the environment. This process involves identifying hazards, analyzing what could happen if a hazard occurs, and determining the appropriate measures to control or mitigate those risks effectively.

By conducting a thorough risk assessment, organizations can proactively identify safety concerns and implement strategies to minimize or eliminate them, thereby fostering a safer work environment. This evaluation is essential for compliance with safety regulations and standards, as it ensures that employers are aware of potential risks and are taking steps to protect their employees.

The other options focus on different aspects: implementing regulations is just one outcome of risk assessment, calculating productivity does not relate to safety directly, and reducing expenses is a financial consideration rather than a safety-focused evaluation.