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Some companies believe risk assessment interferes with normal day-to-day operations.
Others think it offers little value versus time, effort and money spent.
So, they’re often unprepared when those risks become reality.Lack of a well-designed risk assessment program can cost a company dearly.
There are also human expenses to consider, such as injuries, lost productivity and turnover when workers leave what they consider to be an unsafe environment.
Additionally, companies may jeopardize customer relations when a risk-related shutdown delays order delivery.
Perhaps a vessel is leaking a hazardous material, or rotating equipment isn’t in proper repair.