An element of a transit system's safety management program which includes identification and evaluation of potential safety hazards for employees, passengers, the public, and the agency itself. It is the process of planning, organizing, directing, and controlling the resources and activities of an organization to minimize the adverse effect of accidental losses on that organization. Risk management may be as uncomplicated as asking and answering three basic questions: what can go wrong; what will be do (both to prevent the harm from occurring and in the aftermath of an "incident"); and if something happens, how will we pay for it?