What defines a risk in terms of safety?

The concept of risk in safety is fundamentally about the probability of experiencing harm associated with recognized hazards. This definition encompasses both the likelihood that a hazardous event could occur and the severity of the potential consequences that would result from that event. By focusing on the probability, we can quantify risk and determine how likely it is that exposure to certain hazards will lead to adverse outcomes, allowing for more informed decision-making regarding safety measures and protocols.

Understanding risk in this manner also enables safety professionals to prioritize interventions based on the level of risk presented by different hazards. For example, hazards that have a high probability of occurrence and high severity consequences would be addressed with more stringent controls than those with lower probabilities or less severe consequences.

In contrast, the other options do not accurately capture the essence of what defines risk in a safety context. The potential for injury without considering hazards overlooks the need for an understanding of the hazards themselves, while a theoretical approach to safety measures neglects practical applications. Lastly, estimating costs related to damages focuses on financial implications rather than the probability and impact of harm, which is a key component of the risk definition.