What two factors determine risk in the hazard assessment?

• A. Severity and Likelihood
• B. Probability and Impact
• C. Frequency and Severity
• D. Exposure and Consequence

Answer: (A)

In hazard assessment, risk comes from how bad the outcome could be and how likely that outcome is to occur. The two factors that capture this are severity—the seriousness of harm if the hazard materializes—and likelihood—the probability that harm will occur under the given conditions. Together they form the basis for estimating risk, often expressed as risk = likelihood × severity.

While other pairs like probability and impact or frequency and severity touch on parts of the idea, the standard approach specifically uses severity and likelihood to describe risk. Exposure and consequence, while related to risk, don’t directly capture the probability of the event happening, which is central to the risk calculation.