Which risk management step involves identifying previous mishaps to inform decisions?

The step focused on identifying previous mishaps to inform decisions is hazard identification. This is the foundational phase of risk management where leaders look for potential hazards based on past incidents or mishaps. By understanding what has occurred previously, leaders can better anticipate risks that may arise in similar situations and facilitate the development of informed strategies to mitigate those risks in the future.

This phase is crucial because it allows for a proactive approach to risk management, rather than a reactive one. By analyzing historical data and past events, leaders can set the stage for a more thorough assessment of current hazards, ensuring all relevant risks are addressed.

While assessment and analysis involve evaluating the identified risks, implementation of controls focuses on applying measures to mitigate those risks. The review and feedback step looks back at the actions taken to address hazards, assessing their effectiveness. Therefore, it is the initial phase of hazard identification that plays the critical role of recognizing past mistakes and learning from them to promote safer decision-making.