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Hazard is the potential source of harm, while risk is about what actually could happen given exposure and the consequences if it does. In safety practice we identify hazards to know what could cause harm, then assess risk by considering how likely someone is to be exposed to that hazard and how severe the outcome would be if exposure occurs. For example, a bare electrical wire is a hazard because it can cause harm; the risk depends on whether someone might touch it, how well it’s insulated or protected, and what the potential injury would be. If proper safeguards are in place and exposure is minimized, the risk is reduced even though the hazard remains. Conversely, with high exposure and severe potential harm, risk stays high. That’s why the statement pairs hazard as a potential source of harm with risk as the likelihood and severity of harm actually occurring.