Risk  assessment  is  the  process  which  associates  hazards  with  risks.  When the various impacts a hazard may have on a certain operation and an estimate of how likely it is to occur are known, the hazard is consequently to be named a risk. The second aspect of risk assessment is the ranking of risks into a priority order. This priority listing is intended to be used as a guide to the relative priority of the risks involved that may deserve attention and possible risk control action.