How is Risk defined?

• A. A guaranteed outcome with certainty.
• B. A fixed schedule of risk reduction steps.
• C. A subjective perception of danger.
• D. An expression of possible loss, adverse outcome or negative consequence; such as injury, illness or materiel damage in terms of probability and severity.

Answer: (D)

Risk is the possibility that a hazard will cause a loss or negative outcome, described in terms of how likely it is to occur and how severe the impact would be. It isn’t a guaranteed result, nor is it simply following a fixed schedule. It isn’t just a matter of someone’s subjective feeling about danger. The key idea is that risk combines both probability and consequence: you consider both how likely an event is and how bad its effects could be, such as injury, illness, or damage to equipment or materiel. This dual focus lets you prioritize which risks to treat and what controls to apply to reduce either the likelihood or the severity of potential harm.