What is the difference between hazard and risk?

A hazard is a physical, chemical or biological agent, in, or condition of food with the potential to cause an adverse health effect. A risk is an estimate of the probability and severity of the adverse health effects in exposed populations, consequential to the hazards in food. Understanding the association between a reduction in hazards that may be associated with a food, and the reduction in the risk to consumers of adverse health effects is of particular importance in the development of an appropriate food safety control system.