Risk Management

I now work in a logistics support company and I was tasked to conduct risk assessment in our inventory control division. Though this is a group activity I’m studying the matter carefully prior the actual activity because this is the first time I have encountered risk assessment. I have done some research I just want to know aside from identifying hazards and evaluating the risk associated with that hazard, what are the other benefits of risk analysis?

tradeinfamous said:

The analysis of risk is very essential for preparing an action plan. It also makes it easier to understand the level of risk.

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As I have researched, another benefit will be resources can be more efficiently allocated. Have you heard about this Risk Assessment Matrix? If yes, do you think it will help?