This study includes a case study among plastic process manufacturing companies, based on which, the currently used 4M method is applied in terms of machine, media, man, and management, to conduct quantitative risk evaluation, and thus to contribute to reducing human and material loss as well as preventing accidents in industrial fields. The result of this study is analyzed based on the 4M-risk assessment to find out the hazardous risk elements, and the quantitative evaluation made it predictable the value of risk(frequency $ imes$ intensity) in such classified levels as serious risk, critical risk, and intolerable risk. Further, Among the businesses with hazardous risk elements and high frequency of industrial disaster, risk analysis was conducted for each process, and as a result, 38 cases among 76, including those of serious risk, critical risk, and intolerable risk, were improved, and the risk was reduced. Besides, it is thought that with the engineering approach with 4M-Risk Assessment, the attempt to improve safety level contributes to prevention of accidents.