A risk assessment form is an organized way of evaluating workplace environments and implementing competent safety procedures, reports Healthy Working Lives. This includes assessing what could go wrong, preventing loss, reducing damage and decreasing workplace injury.
In addition, risk assessments identify hazards and help put emergency plans into place, states Ready.gov. Hazardous weather, such as floods, hurricanes and tornadoes, may cause a business to lose assets and business hours. These forms are a requirement for businesses, notes Healthy Working Lives. Without knowing the risks at a place of business, the resulting damage to owners, employees and clients can be immense.