What is a hazard as defined in risk management?

The definition of a hazard in the context of risk management describes it as a real or potential condition that has the capacity to cause harm or damage. This encompasses various types of hazards, such as physical, chemical, biological, and ergonomic hazards, all of which can negatively impact individuals, property, or the environment. Recognizing hazards is crucial for effective risk management, as identifying these conditions allows leaders to implement appropriate measures to mitigate or control the associated risks.

Understanding this definition helps leaders prioritize safety and ensure that proper precautions are in place to protect personnel and resources. The recognition of a condition as a potential source of harm underscores the need for proactive risk assessments and responses in diverse operational environments. By focusing on the condition itself as the source of potential danger, risk management strategies can be effectively developed and applied.