What is the last step in the Comprehensive Risk Approach cycle?

In the Comprehensive Risk Approach cycle, the final step is to identify. This step serves as a crucial aspect of the process because it involves recognizing and documenting the risks that have been detected through previous evaluations and mitigations. Identifying risks at the end of the cycle reinforces the need for continual assessment and aids in improving future risk management strategies.

After mitigation strategies have been implemented, the cycle naturally flows into identification again. This cyclical nature emphasizes that risk management is an ongoing process—one where the understanding of potential hazards must be continuously updated to adapt to any new challenges or changes in the operational environment. It reinforces the importance of having a proactive stance on risk management rather than treating it as a one-time task.

In contrast, the other choices represent earlier steps or components of the risk management process. For instance, mitigating risk comes after identifying and evaluating, while prioritizing is part of assessing which risks need immediate attention. Circle back to evaluate would occur after risks are identified and mitigated, rather than being the final step. Thus, returning to the identification phase serves to complete the cycle, ensuring a comprehensive understanding of risk management is maintained.