Hazard Rate Posted on 15th November 20154th September 2020 by ThePD (The Project Definition) Hazard Rate is the frequency with which hazards occur that is the rate of death for an item, or the failure rate, etc. Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Related Posted in HSE and tagged hazard, hse, safety. ThePD (The Project Definition) ThePD has been developing the Preferred Project Definitions based on the actual project execution and operation experiences and knowledge with the Project Language, and sharing with you daily basis.