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Risk assessment is a fundamental part of any effective safety management strategy and comprises of three main elements namely risk analysis, risk management and risk communication. Safety assessment of hazards is no exception and therefore risk assessment form an integral part of the national regulatory framework as well as obligations. In view of the scientific advances taking place globally in the area of risk assessment, in India the science of risk assessment it is not that developed and practice. This book emphasis the need to develop The Risk Analysis Framework (RAF) and improving risk assessment through procedural changes, which describes the principles of risk analysis used by the Regulatory Agencies worldwide to protect human health and safety, and the environment.