Hazard is defined as:
Anything that has the potential to cause harm, injury, damage to property and environment.
Hazard is a condition that can cause injury or death, damage to or loss of equipment or property, or environmental harm.
e.g. electricity, chemicals, working up a ladder, noise, machinery, stress, etc.
Risk :
The probability of any injury or loss occurring from the hazard.
A risk is the combination of the probability of the hazardous event occurring and the consequences of the event.
Probability x Consequences = Risk

Hazard vs Risk
Hazard
Risk
| Ladder | Climbing and falling from ladder. |
| Plane | Flying in thunderstorm and crashing. |
| Hammer | Using it and injuring Yourself. |
| Chemical | Chemical handling. |
| Electricity | Contact with live parts causing shock and burns. |
| Work at height | Fall from height. |