What are the 4 levels of risk ?

In any field, risk assessment is a critical aspect of evaluating potential hazards and making informed decisions to mitigate or manage those risks. There are generally four levels of risk, each with its own characteristics and considerations. The four levels of risk are:

Low Risk: This level of risk is defined as a low likelihood of a harmful event occurring. It is also known as a "green" level of risk. This type of risk is typically associated with low-risk activities, such as normal operations or low-risk work environments.

Moderate Risk: This level of risk is defined as a moderate likelihood of a harmful event occurring. It is also known as a "yellow" level of risk. This type of risk is typically associated with moderate-risk activities, such as projects or tasks with some potential for failure.

High Risk: This level of risk is defined as a high likelihood of a harmful event occurring. It is also known as a "red" level of risk. This type of risk is typically associated with high-risk activities, such as new construction or major renovations.

Very High Risk: This level of risk is defined as an extremely high likelihood of a harmful event occurring. It is also known as a "fire" level of risk. This type of risk is typically associated with extremely high-risk activities, such as construction on a critical infrastructure or the use of highly dangerous equipment.

It is important to note that these levels of risk are not absolute and can vary depending on the specific context and circumstances. It is also important to have a clear and comprehensive risk management plan in place to identify and mitigate potential risks.