What is the fifth step in the five-step risk management process?

The fifth step in the five-step risk management process is supervision and evaluation. This step is crucial because it involves monitoring the effectiveness of the implemented risk controls and ensuring that they are functioning as intended. Additionally, it allows for the assessment of whether the risk management strategies are sufficient in mitigating hazards.

Supervision and evaluation also provide an opportunity to gather feedback and make adjustments to the risk management process as necessary. By continuously reviewing the results of risk controls and making informed changes, organizations can improve safety measures and adapt to any new hazards that may emerge over time. This cyclical nature of evaluation helps ensure ongoing safety and compliance within the organization.

Identifying hazards is the first step, followed by assessing those hazards, implementing controls, and then the continuous cycle of supervision and evaluation is crucial for maintaining an effective risk management strategy.