# What is a Risk Assessment?

A risk assessment identifies hazards, evaluates risk, and documents controls. SMEs need them for safety and insurance. Keeping them current prevents incidents and shows diligence during inspections.

Source: https://faqtic.co/glossary/risk-assessment

## Why it Matters for SMEs

- Prevents harm
- Meets legal duties
- Eases inspections

## Example in Practice

Completed assessments are stored and versioned in Factorial.

## Frequently Asked Questions

### How often?

Annually or on change.

### Who conducts it?

Competent person or external expert.

### Template use?

Yes, standard checklists help.

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