In risk assessment, what distinguishes a 'hazard' from a 'risk'?

In risk assessment, a 'hazard' is a potential source of harm or adverse health effect to a person or persons, while 'risk' is the probability that the hazard will cause harm and the severity of that harm. A hazard is the inherent danger, while risk is a measure of the likelihood and potential consequences of that hazard causing injury or damage. For example, a moving robot arm is a haz....