Risk Management has taken great value for companies, seeking to respond to the uncertainty and demands of different financial crises and the variables of increasingly globalized international markets, where investors and customers of goods or services may be located anywhere in the world, and under changing conditions. All this leads them to the need to identify and evaluate the variables that may affect the fulfillment of the company’s objectives and to have measures that can mitigate the impact of negative situations for the company. Although companies invest in risk management, they do not know their cost, they do not know how many resources are available for their implementation, maintenance and improvement, much less have indicators of their effectiveness. The following article presents a detailed analysis of occupational risk management from the legal elements in Colombia, the integration of the occupational health and safety system, as well as describes all the costs that an organization must consider to assess the actions that seek to prevent the risk of accident at work and those costs that imply the materialization of this risk. Providing management with the infor mation necessary for investment decision-making, which enables the optimiza tion strategies of the total cost of labor risk to be traced.