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FOR OIL AND GAS OPERATION
Hazard management required to identify , locate and recognize the hazard that might be existing within the workplace or might be associated within the process and activities which are performed in the work site, or with the materials and equipment.
after identifying hazard , adequate control measures shall be taken in order to eliminate , reduce , isolate and control the hazards following the hierarchy of hazard controls...
In short the main reason for identify & control hazard , can be economical ( avoid losses ) , moral responsibility of employers toward employees & society & legal , to avoid civil claims and criminal actions.
other than that , hazard & effect which is involving identifying the hazard , estimating the possible consequences -in case the hazard were not sufficiently controlled- , it is the the same exercise done in the Risk assessment process , both of methods are very important to determine priorities ,both methodologies assist decision makers by providing solid justifications to invest in the control measures ..