Risk Assessment (RA) is a systematic process used to identify, evaluate, and mitigate potential hazards in industrial operations, ensuring the safety of personnel, assets, and the environment. It is essential for high-risk industries such as Oil & Gas, Chemicals, Power, Pharmaceuticals, and Manufacturing, where operational failures can lead to severe consequences. Key methodologies include Quantitative Risk Assessment (QRA), which analyzes potential accident scenarios using probabilistic models to quantify risk levels; Hazard and Operability Study (HAZOP), a structured approach to identifying process hazards and deviations in design and operations; and Emergency Response and Disaster Management Plan (ERDMP), which focuses on preparedness, response, and mitigation strategies for industrial emergencies. A robust risk assessment framework helps industries comply with safety regulations, minimize operational disruptions, and enhance workplace safety and environmental protection.