the possibility or potential for loss. In road safety, risk involves primarily the likelihood that any person will experience physical injury or psychological harm because of a motor vehicle crash. Financial costs of repairing or replacing damaged property or correcting negative environmental consequences, and impacts to business processes (e.g. lost time, lower productivity and damaged reputation) are other losses that may be associated with a crash.
Three factors determine how much risk a given hazard can generate:
- Frequency of Exposure – how often and for how long workers are exposed to the hazard.
- Probability of Occurrence – the likelihood that a crash or other negative event will occur.
- Severity of Consequences - the severity of resulting harm or injuries, the magnitude of associated losses or negative consequences.