Hazard and effect management process(HEMP) is one of the hazard management tools which ensures that hazards are identified, assessed and control measures in place should any accident happens so that the company can quickly go back to business.
The Hazards and Effects Management Process (HEMP) provides a framework for managing HSSE-related hazards. Risk Assessment in other words is the determination of quantitative and qualitative value of risk related to a situation and recognized threat.