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The Flight Operations Risk Assessment System (FORAS) is envisioned as a risk management tool that will enable operators at the safety, flight operations, and dispatch level to monitor and reduce the risks associated with individual flights, as well as the entire flight operation. FORAS will focus on flight operation processes and the initial work will provide a quantitative assessment of risk of controlled flight into terrain and risk of turbulence-related injury. The risk model is based on a large set of possible risk factors roughly classified under the categories of environment (including weather), operator, service provider, flight path, aircraft, cabin, and air handling. We present here a description of progress to date on FORAS, as well as plans for its future development.