Below we have accounted for some of the definitions primarily used in connection with risk assessment.
All definitions are referenced to DS/OHSAS 18001.
Risk assessment:Process of evaluation the risk(s) arising from a hazard(s), taking into account the adequacy of any existing controls, and deciding whether or not the risk(s) is acceptable.
Hazard Source, situation, or act with a potential harm in terms of human injury or ill health or a combination of these.
Combination of the likelihood of an occurrence of a hazardous event or exposure(s) and the severity of injury or ill health that can be caused by the event of exposure(s).
Risk that has been reduced to a level that can be tolerated by the organization having regard to its legal obligations and its own OH&S policy.
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