Difference Between Risk And Hazard

Difference Between Risk And Hazard

The main dissimilarities or difference between risk and hazard can be studied as follows:

1. Introduction

Risk: Possibility or chance of occurrence of harm,damage or losing something

Hazard: Condition or object that causes harm, damage or loss

2. Refers To

Risk: Probability of damage, harm, injury, loss etc.

Hazard: Source of potential damage, loss, harm, injury etc.

3. Type Of Situation

Risk: It is anticipated or future situation

Hazard: It is existing or current situation

4. Derived From

Risk: Greek term 'Rizikon'

Hazard: French term 'Hazard'

   Also Read: 

Difference Between Systematic And Unsystematic Risk 

5. Negligible Or Not

Risk: Yes

Hazard: No

6. Measurement

Risk: Measurement of risk is possible and can be measured in terms of degree

Hazard: Measurement of hazard is not possible

Wholesalers Vs Distributors (Comparison Chart)

Basis For Difference	Risk	Hazard
Introduction	Possibility of occurrence of harm or damage	Object that causes harm or damage
Refers To	Probability of loss	Source of loss
Type Of Situation	Future	Current
Derived From	'Rizikon' (Greek word)	'Hazard' (French word)
Negligible ?	Yes	No
Measurement	Possible	Impossible

I hope this post is helpful to understand the difference between risk and hazard and to make comparison between them.