Against personal injury, avoid economic loss and prevent damage to your reputation
The conventional approach to ensure safe operation is based on operational requirements (measures directed against frequently occurring events regardless of the gravity of their consequences) and standards (measures directed against events with significant consequences regardless of their frequency). The results achieved in this way are conservative, but perhaps not particularly balanced.
In contrast, the risk-oriented approach takes both event frequency and consequences into account. This enables appropriate classification of operational and standard requirements. Measure effectiveness can be quantified and measures prioritized. This results in an optimized cost/benefit ratio.