What is the systematic process of evaluating potential risks in a planned activity called?

The systematic process of evaluating potential risks in a planned activity is referred to as risk assessment. This process involves identifying hazards, analyzing the risks associated with them, and determining how those risks can impact the objectives of the activity. Risk assessment is foundational in understanding the level of risk involved and in making informed decisions about how to mitigate or manage those risks.

In risk assessment, techniques such as qualitative and quantitative analysis may be employed to prioritize risks based on their potential impact and likelihood. This allows for a structured approach to understanding what could go wrong and how severe the consequences could be, ultimately informing stakeholders and guiding them toward effective risk management strategies.

Risk analysis, while similar, generally refers to examining the nature of the risk itself rather than the entire evaluation process. Risk management encompasses not just the assessment but also the broader strategies for mitigating identified risks after the assessment is completed. Risk identification specifically focuses on recognizing potential risks but does not include evaluating them, which is a key part of the risk assessment process.

Thus, risk assessment accurately describes the comprehensive evaluation of potential risks in a planned activity, making it the correct choice in this context.