It should come as no surprise that one of the most crucial elements of a safety management system (SMS) is safety risk management (SRM). SRM is a process by which an organization identifies hazards, assesses the risks associated with those hazards, and then mitigates those risks so that they are as low as reasonably practicable. Mitigation can range from eliminating the hazard (and its associated risks) in its entirety to accepting the hazard and putting in place controls to minimize the risks associated with it.
