Risk Management Basics: Defining Hazards, Risk, and Loss

Hazards, risks, and loss are foundational terms of risk management. Often, mistakably, “hazard” and “risk” are used interchangeably. So, in this course, we’ll go over what these terms mean, in relation to risk management, and give viewers some real-world examples. The simple concept here is to recognize hazards and risks, in the hopes of preventing loss.