Hazard refers to the chance of something happening that will have an impact on an organisation or person’s ability to achieve business or personal objectives.

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BlackTom AI · Accepted Answer

In this question, we are evaluating the statement about the term 'hazard' and its definition.
Option 1: True. Saying that a hazard is the chance of something happening that will have an impact on an organisation or person’s ability to achieve objectives is actually a mixed interpretation. A hazard is typically defined as a potential source of harm or adverse effect, i.e., something with the potential to cause harm, damage, or loss. It is not itself the chance or probability of that event occurring, but rather the condition or situation that could lead to harm if it occurs. Therefore labeling hazard as a chance of something happening is an incomplete description.
Option 2: False. This aligns with the standard safety and risk management definitions: a hazard is a potential source of harm or adverse impact, while risk is the likelihood and consequence (the probability of occurrence and the severity of impact). The statement as given conflates hazard with risk by focusing on the probability of an event rather than the existence of a harmful condition itself. Hence, the statement is incorrect because it defines hazard in terms of probability rather than as a source of potential harm.
Additionally, the emphasis on impact on objectives reflects risk concepts—risk combines both the chance of an event and its impact on objectives. Distinguishing between hazard (the cause of harm) and risk (the chance and impact of harm) helps avoid mischaracterization.
In summary, the statement is not accurate because a hazard denotes a source of potential harm, not the likelihood of that harm occurring; risk would be concerned with the probability and consequence of the event.

CVEN30008_2025_SM1 Module 3.2 Quiz

Hazard refers to the chance of something happening that will have an impact on an organisation or person’s ability to achieve business or personal objectives.

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