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Risk Is The Potential Of Losing Something Of Value

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According to Goetsch (2011) risk is the potential of losing something of value. Values (such as physical health, social status, emotional wellbeing or financial wealth) can be gained or lost when taking risk resulting from a given action, activity and/or inaction, foreseen or unforeseen. Risk can also be defined as the intentional interaction with uncertainty. Uncertainty is a potential, unpredictable, unmeasurable and uncontrollable outcome, risk is a consequence of action taken in spite of uncertainty

According to AR 385-10 (2013) a hazard is any source of potential damage, harm or adverse health effects on something or someone under certain conditions at work. Basically, a hazard can cause harm or adverse effects (to individuals as health effects or to organizations as property or equipment losses). Sometimes a hazard is referred to as being the actual harm or the health effect it caused rather than the hazard.

Furthermore, ("Army Safety Program," 2013) states that a hazard for machine guarding is a condition with the potential to cause injury or death of personnel; damage to or loss of equipment or property; or operation degradation. This could potentially create a harmful events that causes degradation of capabilities or work failure. Hazards lead to risk whenever people interact with equipment or their environment. Hazards exist in all types of environments and activities. An approach to identifying a hazard is to consider how the condition can lead to a

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