Recently companies and corporations are increasing the use of analytical techniques to identify, assess and address risks, starting from the early stages of a project until the operation and production stage. This work is done with the intent to avoid deviations or minimize the impact if such deviations could occur in systems, processes, equipment and facilities. The hazard and operability study - HAZOP is a technique for identifying inductive risks based on the premise that accidents occur as a result of the deviation of process variables in contrast of the standard operating parameters. In this work, it is suggested the general methodology for applying the HAZOP technique within the industry through a structured process that can be followed easily by people who are interested in starting to use this technique to improve the security environment within the institution or when is required by regulatory agencies.