Which term refers to the source of danger defined as the possibility of suffering harm or loss?

Which term refers to the source of danger defined as the possibility of suffering harm or loss?

• A. Hazard
• B. Safety
• C. Risk
• D. Likelihood x Consequence

Answer: (C)

Risk is the chance that harm or loss could occur due to exposure to a hazard. In project management, you identify hazards—things with potential to cause harm—and then assess risk by considering both how likely the harm is and how severe the consequences would be. The phrase “possibility of suffering harm or loss” matches this idea precisely, which is why risk is the best answer. Hazard refers to the source of danger, such as a wet floor or a missing guard, not the chance of harm itself. Safety is the state of being protected from harm. The option that expresses “Likelihood x Consequence” describes how you quantify risk, not the term for the danger itself.

Risk is the chance that harm or loss could occur due to exposure to a hazard. In project management, you identify hazards—things with potential to cause harm—and then assess risk by considering both how likely the harm is and how severe the consequences would be. The phrase “possibility of suffering harm or loss” matches this idea precisely, which is why risk is the best answer. Hazard refers to the source of danger, such as a wet floor or a missing guard, not the chance of harm itself. Safety is the state of being protected from harm. The option that expresses “Likelihood x Consequence” describes how you quantify risk, not the term for the danger itself.