Which of the following statements regarding risk management is correct?

Risk management is indeed a continuous process, which is essential for effectively identifying, assessing, and mitigating risks over time. This ongoing nature allows organizations to adapt to new challenges and changing environments, ensuring that they remain proactive rather than reactive to potential hazards.

In the realm of risk management, recognizing that it is not a one-time task but an evolving framework is crucial. This means that as new risks emerge or existing risks change, organizations can update their strategies, implement new controls, and reassess their risk landscape. Continuous monitoring and improvement lead to better safety outcomes and integrate risk management into the organization's overall culture.

Other statements lack accuracy or comprehensive understanding. For example, trying to eliminate all hazards is impractical, as some risks may be inherent to specific activities or environments. Additionally, risk management encompasses a wide range of hazards, not just physical ones, including psychological, financial, and operational risks. Lastly, risk management is essential across all functions and levels of an organization, not limited to just operational tasks. This broad applicability underscores the importance of embedding risk management practices throughout an organization to achieve safety and performance goals.