What are the steps of risk assessment for a given activity?

There are5 steps to create your Risk Assessment 1.
Identify the hazards 2.
Decide who might be harmed and how 3.
Evaluate the risks and decide on precaution 4.
Record your findings and implement them 5.
Review your assessment and update if necessary

To do a risk assessment you need to do the following: 1.
Analyze your task (Break the task down into individual steps) 2.
For each step of the task, identify the risk that accompany the step 3.
Decide on a control measure to implement in order to control the risk 4.
Implement the control measures 5.
Asess the control measures for effectiveness

In General, there are five steps of risk assessment, as discussed above. But it depends on the activity which is being assessed as in FMEA (Failure Mode Effect Analysis) which is also a type of risk assessment,  the steps are more than five as to set a Risk Priority Number. In FMEA, detection of failure also important to show in scale i.e.1-5 etc. HAZOP is also a type of risk assessment where the nodes have to be decided. So there may be additional steps required in risk assessment with initials:

1.  Identify the hazards.

2.  Identify the people who might be harmed and how.

3.  Evaluate the risk and decide on precautions.

4.  Record the significant findings and implement them.

5.  Review and update as necessary.