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Showing posts with the label DEFINITION OF RISK

RISK DEFINITION

 Definition of a Risk:                                                                                                                     WHAT IS RISK? Risk is a combination of the likelihood and consequence of a specified event occurring (to determine how serious the HAZARD is- severity)     Likelihood: - Probability or chance that the hazardous situation will actually happen 1. Definitely – would certainly happen. 2. Very likely – could happen readily. 3. Likely – could happen normally. 4. Unlikely – could happen under certain circumstances 5. Highly unlikely – could happen but unlikely Consequence: - Size or seriousness of harm 1. Fatality – would cause death. 2. Major harm – could cause permanent disabilities and long-term health problems to the workers. 3. Medium harm – could cause injuries that the employee could recover from and would cause health problems that could go on for a short while. 4. Minor harm – could cause discomfort and hurt. 5.