How is risk defined in terms of hazards?

Risk, in the context of hazards, is defined as the combination of hazard and exposure. This definition highlights that risk is not simply the existence of a hazard; it also encompasses the degree to which that hazard can affect individuals or assets based on the level of exposure.

A hazard represents a source of potential harm or adverse effect, while exposure refers to the conditions under which people or things might come into contact with that hazard. Therefore, understanding risk requires evaluating both how dangerous a hazard is and how likely it is that people or property will encounter that hazard.

This dual focus allows for a more comprehensive assessment of risk, enabling better decision-making concerning safety measures and mitigation strategies. For instance, in an area prone to flooding, the hazard is the floodwater itself, but the risk would consider how many people live in the floodplain and how frequently the flooding occurs. Thus, risk is not only about potential dangers but also about the contextual factors that influence the likelihood and consequences of those dangers manifesting.