What is the difference between a hazard and a risk?

A hazard arising from a work activity can be defined as a situation or thing that has the potential to cause death, injury or illness to a person.  The Act states that hazards also include a person’s behaviour where that behaviour has the potential to cause death, injury or illness to a person (whether or not that behaviour results from physical or mental fatigue, drugs, alcohol, traumatic shock, or another temporary condition that affects a person’s behaviour).  Hazards at work may include: hazardous substances, vehicles, plant and equipment, falling objects, repetitive movements, fatigue, bullying and violence at the workplace, and falls, slips and trips.

Risk is the likelihood that death, injury or illness might occur when a person is exposed to a hazard. Risks must be managed by taking action to eliminate them, and if that is not reasonably practicable, minimising them.