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Understanding hazards and risks

A hazard is something with the potential to cause harm. Risk is the likelihood that the harm will occur from exposure to the hazard. For example:

The hazard is electricity. The risk is the likelihood that a worker might be electrocuted because of exposure to electrical wires that is inadequately insulated.
The hazard is a 40kg bag. The risk is the likelihood that a worker might suffer back strain from manually lifting 40kg bags.
The hazard is carbon monoxide. The risk is the likelihood that a worker might suffer carbon monoxide poisoning because they are using a petrol operated pump in a well.