Application of risk management in day-to-day operation of sea-going vessels

Purpose: reasons for writing the paper is to present, the optimal procedure to manage of risk and Risk Assessment procedures on board sea-going vessels. Design/methodology/approach: an analysis of implemented Risk Assessment procedures on board sea-going vessels various shipping companies. Findings: found that approach to risk management and requirements to perform Risk Assessment are varied between shipping companies and sometime varied between vessels in the same shipping company. Research limitations/implications: management of risk based on Risk Assessment to be simplify and unified. Practical implications: suggestion is given to unify procedures for Risk Assessment. Social implications: reduction of risk to happen undesired events and mitigations of hazards associated with day to day operation of sea-going vessels. Originality/value: recommendation to shipping companies for modification of Risk Assessments procedures where is necessary to improve safety on board.