In risk management, which statement correctly defines hazard, risk, and exposure?

In risk management, which statement correctly defines hazard, risk, and exposure?

• A. Hazard is a source of potential harm; risk is the probability and consequence of harm; exposure is the presence of people or assets to that hazard.
• B. Hazard is the probability of harm; risk is the source of potential harm; exposure is the likelihood.
• C. Hazard is a control measure; risk is a hazard; exposure is irrelevant.
• D. Hazard and exposure are the same; risk is only about probability.

Answer: (C)

Understanding how hazard, risk, and exposure relate helps you assess safety. A hazard is something with the potential to cause harm—a chemical, a hot surface, a wet floor. Risk is the likelihood that harm will occur and the severity of that harm, often described as probability times consequence. Exposure is about who and what is exposed to the hazard—the presence of people or assets in the area or in contact with the hazard, and for how long. For example, a wet floor is a hazard; the risk is the chance someone will slip and possibly be injured, considering how slippery it is and how severe an injury could be; exposure is how many people are walking over that area and whether there are barriers or signs to reduce access. This shows why a hazard isn’t a control measure, risk isn’t merely the hazard, and exposure isn’t irrelevant—controls aim to reduce hazards, risk reflects both likelihood and impact, and exposure defines how many are at risk.

Understanding how hazard, risk, and exposure relate helps you assess safety. A hazard is something with the potential to cause harm—a chemical, a hot surface, a wet floor. Risk is the likelihood that harm will occur and the severity of that harm, often described as probability times consequence. Exposure is about who and what is exposed to the hazard—the presence of people or assets in the area or in contact with the hazard, and for how long. For example, a wet floor is a hazard; the risk is the chance someone will slip and possibly be injured, considering how slippery it is and how severe an injury could be; exposure is how many people are walking over that area and whether there are barriers or signs to reduce access. This shows why a hazard isn’t a control measure, risk isn’t merely the hazard, and exposure isn’t irrelevant—controls aim to reduce hazards, risk reflects both likelihood and impact, and exposure defines how many are at risk.