Risk review timeline Inherent risk - I think is old school thinking - sorry to be negative. We should focus on current as we have controls in place already. Why think about a risk without controls. If you look at the swiss cheese model this is a prime example to support current risk. I know this is off topic but current risk and improvements plans is the way I look at it and makes sense to me. Supporting this with a systematic approach to identifying the hazards should be approached first.
Back on topic - agree with Tracey - look at your risk profile and controls to determine the frequency and of course consultation with the people who understand the risk is important.
Ensuring people who are confident to do the assessment is important, is important and a devils advocate (if you have one) to keep you on track.
I recently was talking about risk and the HR Manager who referred to worse case scenario - another mistake (my thoughts) in managing residual risk. Again applying the swiss cheese model here where there are control in place. As Dr Conklin would say "failing safety"
A good topic for discussion thanks Sarah:)