Risk Assessment

In the maritime context, risk assessment refers to the systematic process of identifying and evaluating potential hazards, threats, and vulnerabilities that could negatively impact the safety and security of a vessel, its crew, cargo, and the marine environment. This process involves a thorough analysis of the ship's operations, equipment, and procedures, as well as the external factors such as weather conditions, navigational challenges, and potential criminal or terrorist activities. The goal of maritime risk assessment is to minimize the likelihood of accidents, incidents, or security breaches by implementing appropriate preventive measures and contingency plans. It is a critical component of a ship's Safety Management System (SMS) and is mandated by the International Safety Management (ISM) Code. The risk assessment process typically includes four steps: hazard identification, risk estimation, risk evaluation, and risk control. It is a continuous process that needs to be regularly updated to reflect changes in the ship's operations, equipment, or the external environment.