Risk assessment is a systematic and iterative process, which involves risk analysis, where probable hazards are identified, and then corresponding risks are evaluated along with solutions to mitigate the effect of these risks. In this article, the outcome of a risk assessment process will be detailed, where a large industrial robot is used as an intelligent and flexible lifting tool that can aid operators in assembly tasks. The realization of a collaborative assembly station has several benefits, such as increased productivity and improved ergonomic work environment. The article will detail the design of the layout of a collaborative assembly workstation, which takes into account the safety and productivity concerns of automotive assembly plants. The hazards associated with hand-guided collaborative operations will also be presented.