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is the actual statistical likelihood of an incident occurring. This is established through reviews of statistics and other relevant data, and by an analytical process and use of expertise in the field. There is little ambiguity or subjectivity in

is the perception of risk by those undertaking or evaluating something; it may vary greatly based on their level of apprehension, anxiety, or experience with the specific risk. can also vary greatly from the of an activity; it can be higher or lower than the actual risk. Successful management of risk may include operators promoting the risk of activity as high, even if in reality the risk is minimal. This strategy can ensure successful delivery of an exhilarating, challenging experience while remaining safety conscious.

is the risk that must exist for the activity to occur; examples include the risk of drowning when swimming and the risk of falling during skiing. It is impossible to eliminate from these activities because it would preclude participating in them. However, operators should take steps to minimize

; this could include, for example, providing appropriate safety equipment for guests, training staff, and informing participants of the hazards of the activity.