Which risk management method is most commonly used to manage risk?

The most commonly used method to manage risk is through control measures. Control measures involve implementing strategies that reduce the likelihood or impact of potential risks. These strategies can include various operational guidelines, safety protocols, and preventive actions designed to identify hazards and mitigate them effectively.

By employing control measures, organizations create a safer working environment and enhance overall operational safety. This proactive approach allows for continual assessment and refinement of practices, responding dynamically to emerging risks.

While insurance policies can provide financial protection against certain risks, they do not mitigate the risk itself. Similarly, training programs are essential for preparing personnel to handle potential hazards, but they are a subset of control measures rather than a standalone risk management strategy. Performance reviews help in evaluating employee effectiveness, but they are not a direct method for managing risk. Therefore, control measures stand out as the primary approach for effectively managing risks in various settings.