Risk assessment is a process that involves identifying hazards and risk factors that have the potential to cause harm, analyzing and evaluating the risk associated with that hazard, and determining appropriate ways to eliminate the hazard or control the risk when the hazard cannot be eliminated. The process of risk assessment can be broken down into three main steps: hazard identification, risk analysis, and risk evaluation. The goal of risk assessment is to evaluate hazards, then remove that hazard or minimize the level of its risk by adding control measures, as necessary. There are different types of risk assessment methodologies, but most of them include the following steps: Risk and hazard identification, determining the likelihood and size of potential losses, creation of controls and mitigation measures, record, review, and monitor.