What does the term 'risk assessment' primarily aim to achieve?

The term 'risk assessment' primarily aims to identify and manage potential hazards in a project. This process involves systematically evaluating potential risks that could negatively impact the project’s success, including financial losses, delays, and safety issues. By identifying these hazards, organizations can put in place appropriate strategies to mitigate or manage the risks effectively, thus ensuring project objectives are met while minimizing adverse outcomes. This proactive approach not only enhances planning and decision-making but also helps to safeguard resources and improve overall project resilience.

In contrast, the other options focus on different business aspects. For instance, determining profit margins is related to financial analysis, evaluating employee performance metrics pertains to human resource management, and analyzing market performance against competitors is a component of market research and strategy formulation. None of these directly involve the identification or management of risks within a project context as specifically as risk assessment does.