In risk assessment, which factors are combined?

In risk assessment, which factors are combined?

• A. Probability and consequence
• B. Cost of controls
• C. Number of workers exposed
• D. Time since last incident

Answer: (A)

In risk assessment, risk comes from combining how likely a hazard is to cause harm with how severe the harm would be. This means evaluating two parts: probability (the chance the incident could occur) and consequence (the potential severity of the harm). When you multiply or otherwise relate these two factors, you get a sense of how significant the risk is and where to focus controls. Think of it this way: a hazard that is very likely to cause a minor injury and a hazard that is unlikely to cause a catastrophic injury can end up with similar risk levels if their probability and consequences balance out. That’s why probability and consequence are the essential factors in assessing risk. Other aspects, like the cost of controls, the number of workers exposed, or time since the last incident, are important for management decisions or monitoring but do not define the magnitude of the risk itself.

In risk assessment, risk comes from combining how likely a hazard is to cause harm with how severe the harm would be. This means evaluating two parts: probability (the chance the incident could occur) and consequence (the potential severity of the harm). When you multiply or otherwise relate these two factors, you get a sense of how significant the risk is and where to focus controls.

Think of it this way: a hazard that is very likely to cause a minor injury and a hazard that is unlikely to cause a catastrophic injury can end up with similar risk levels if their probability and consequences balance out. That’s why probability and consequence are the essential factors in assessing risk.

Other aspects, like the cost of controls, the number of workers exposed, or time since the last incident, are important for management decisions or monitoring but do not define the magnitude of the risk itself.