What is Risk?
There are many definitions of risk that vary by specific application and situational context.
Risk can be defined as the combination of the probability of an event and its consequences (ISO/IEC Guide 73)
In all types of undertaking, there is the potential for events and consequences that constitute opportunities for benefits or threats to success.
- Hazard - The Hazard is the Grenade
- Risk - The Risk is tripping the wire and setting off the Grenade
- Control - The Control measure’s are the planks of wood and the tape reducing the chance on stepping on the wire.