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The combination of the frequency, or probability, of occurrence and the consequence of a specified hazardous event.
The chance of something adverse happening where 'something' refers to a particular consequence of the manifestation of a hazard. Risk reflects both the likelihod that harm will occur and its severity in relation to the number of people who might be affected, and the consequences to them.
Risk should be expressed in the most suitable terms. Some of the commonly used outputs are: