What is the OSHA risk factor formula?

The correct formula for calculating risk in this context is based on the multiplication of two key factors: the incident rate (IR) and the severity (S) of those incidents. This approach reflects the idea that risk not only depends on how frequently incidents occur but also on how severe those incidents are when they do happen.

Using this formula allows safety professionals to quantify risk in a way that considers both the likelihood of an incident and its potential impact, leading to a more comprehensive understanding of workplace safety and risk management. By multiplying the incident rate by severity, organizations can prioritize safety measures more effectively, focusing not just on reducing the frequency of incidents but also on minimizing their potential consequences. This formula aligns with the fundamental principles of risk assessment used in various safety standards and practices.

Other formulas may seem plausible but do not accurately capture the necessary elements of risk evaluation as defined by OSHA guidelines. For instance, dividing total incidents by total severity does not provide a clear assessment of risk, as it fails to effectively account for the influence of both occurrence and impact. Similarly, simply adding injuries and lost workdays lacks the necessary analytical framework to evaluate risk in a meaningful way. Hence, the chosen formula reflects a more integrated approach to understanding safety risks within the workplace.