High-risk industrial sites are classified as the most dangerous sites for their risk of inducing damage in case of an accident, even if it is rare. Risk policies are one way to prevent damage while balancing other trade-offs. How can public authorities assess “risk policy systems” of high-risk sites in specific administrative regimes for an effective decision process taking into consideration different jurisdictions? This paper investigates the Normandy and Victorian risk policy system in France and Australia, respectively, based on qualitative approaches. By investigating two cases and fostering conceptual thinking, two assessment criteria are highlighted by different stakeholders to determine an effective risk policy. For instance, beyond the common focus on the efficiency and efficacy of risk policies, findings revealed the importance of “dialogue, participation, and cooperation” between actors and “adaptivity, flexibility, relevance, and coherence” of different tools and legal texts. Limitations and further work include testing and iterating on other assessment criteria to propose an adapted assessment framework for high-risk policies.