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What is the difference between risk and hazard?

In project risk management, how does a risk differ from a hazard? Are hazards considered as risks and consequently should be treated as such, or are they different and should have their own "hazard management plan"? Can someone give me an example of a hazard in a project?
asked 8 years ago by anonymous

1 Answer

There is a fine line here separating hazard from risk and issue.  

Everything we do exposes us to hazards.  Stairs can be a hazard.  Poor project sponsorship can be a hazard.  In construction, a wet floor might be a hazard.  How we handle and react to it (put up signs, walk slowly, don't bring in electrical wires) determines the risk.  When we slip and fall, its an issue or a risk which has happened due to the hazard and our reaction to it.
answered 8 years ago by sdcapmp (45,840 points)

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