Which statement correctly describes hazard and risk relationship?

• A. A hazard is a thing or situation with potential harm; risk is the likelihood and consequence arising from that hazard
• B. Hazard and risk are interchangeable terms
• C. Risk is the hazard
• D. Hazard is a measure of cost

Answer: (A)

Hazard vs risk: a hazard is something with the potential to cause harm, while risk is the chance that harm will occur and how bad it would be, given exposure. In mining ventilation, identifying a hazard like methane gas tells you there is potential for harm. The risk is the likelihood that this hazard will lead to harm and the severity of that harm, depending on factors such as how long people are exposed, how effective the ventilation is, and what controls are in place. Risk is assessed by looking at both how likely the event is and how serious the consequence would be. Controls aim to reduce either the probability of the hazard causing harm or the severity of the harm, thereby lowering risk. The other ideas confuse the relationship: a hazard is not the same as risk, risk is not simply the hazard, and hazard is not a measure of cost.