Risk assessment is a systematic and iterative process which involves risk analysis where the probable hazards are identified and 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 being used as a 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 cell which takes into account the safety and productivity concerns of automotive assembly plants.