Which method of risk management involves avoiding hazards entirely?

The method of risk management that involves avoiding hazards entirely is avoidance. This strategy is proactive, where individuals or organizations identify potential risks and take steps to eliminate them entirely, rather than engaging with the risks in any manner.

In practice, avoidance might include decisions such as not participating in an activity known to pose significant risk, opting for a different strategy that does not carry the same hazards, or modifying operations to eliminate exposure to certain dangers. This approach is particularly effective when the risks can be anticipated and quantified, allowing for informed choices about which activities or exposures to completely bypass.

Other risk management strategies, such as assumption of risk, involve accepting the risk as part of the activity, while sharing a risk means distributing the risk among multiple parties, and risk reduction/control focuses on minimizing the impact or likelihood of risks rather than eliminating them altogether. Understanding these distinctions helps to clarify the specific role of avoidance in comprehensive risk management.