What is the term for the process of detecting hazards and assessing associated risks?

The term that describes the process of detecting hazards and assessing the associated risks is commonly referred to as risk assessment. This process involves identifying potential hazards, evaluating the likelihood of those hazards causing harm, and determining the severity of the potential consequences. Risk assessment is a critical step in the broader risk management process, as it provides the necessary information to make informed decisions about how to control or mitigate identified risks.

In various contexts, risk assessment helps organizations understand where vulnerabilities lie and guide them in prioritizing actions to minimize potential negative impacts. It's also essential for compliance with safety regulations and standards, as it supports proactive measures to protect personnel, equipment, and the environment.