The ISO read-risk model can serve as a simple three-step process: collect information, analyze, and ________ risk.

The ISO read-risk model emphasizes a systematic approach to risk management that culminates in the third step of judging the risk. This involves assessing the severity and likelihood of the identified risks and determining their potential impact on operations and safety. This judgment is crucial because it helps prioritize risks based on their significance and informs decision-making regarding mitigation strategies.

In this context, "judging" the risk allows the Incident Safety Officer to develop a clearer understanding of which risks require immediate attention and resources. By evaluating the gathered information and analysis, the ISO can then formulate appropriate responses to enhance safety and ensure the effectiveness of incident management protocols. The focus on judgment is essential as it provides a basis for taking informed actions based on the data and analysis conducted in the previous steps of the model.

The other options do not capture the essence of the decision-making process needed after analyzing risks. For instance, balancing or assigning risks may imply distribution or allocation rather than assessing their seriousness, while valuing risk could suggest a monetary or numerical valuation rather than a qualitative judgment that guides practical responses to those risks.