What is risk management in aviation, and what are the four steps?

• A. Hazard identification, risk assessment, mitigations, residual risk monitoring
• B. Hazard avoidance, risk acceptance, risk transfer, accident reporting
• C. Planning, execution, assessment, improvement
• D. Preparation, deployment, debrief, audit

Answer: (A)

Risk management in aviation is a structured, proactive approach to keeping operations safe by identifying hazards, evaluating how risky they are, applying controls to reduce that risk, and then watching the remaining risk to make sure it stays acceptable. Start with hazard identification—spotting anything in flight operations, maintenance, or the environment that could cause harm. Then do risk assessment—evaluating the likelihood of the hazard causing harm and the severity of the potential outcome so you know which hazards require attention. Next come mitigations—putting in place measures such as changes to procedures, targeted training, engineering controls, or scheduling adjustments to lower the risk. Finally, monitor residual risk—reassessing the risk after mitigations and keeping track to ensure it remains within acceptable limits and to catch any changes or new hazards. This four-step sequence matches the best answer. The other options describe different concepts (like various risk responses or general management loops) that don’t align with the specific four-step risk management cycle used in aviation.