It is well understood that proactive accident prevention relies heavily upon effective risk management programs within an organization and at each of the organization's work locations. And, it is rare that organizations and workplaces today do not have some form of risk management in place. Yet, there remain a high percentage of root cause findings of accidents in the oil and gas industry that cite deficiencies in risk assessment or risk management as one of the primary or underlying causes of incidents. The key to an effective risk management program relies heavily upon a robust and effective risk assessment process. The tendency to reduce these processes to mere generation of paperwork or "tick-the-box" exercises is too often the problem in many organizations. The use of Dynamic Risk Assessment can help to avoid the common pitfalls associated with organizations believing they have effective risk management in place, when in fact they do not. A review of what Dynamic Risk Assessment is and the strategies to use to apply it within both the offshore and onshore work environments of the oil and gas industry is undertaken.