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Preliminary risk levels can be selected based on a risk matrix like shown below, based on Mil. Std. 882. [31] The higher the risk level, the more justification and mitigation is needed to provide evidence and lower the risk to an acceptable level. High risk should be indicated to higher level management, who are responsible for final decision ...
Failure mode effects and criticality analysis (FMECA) is an extension of failure mode and effects analysis (FMEA). FMEA is a bottom-up, inductive analytical method which may be performed at either the functional or piece-part level. FMECA extends FMEA by including a criticality analysis, which is used to chart the probability of failure modes ...
Carver matrix. The Carver matrix can refer to: CARVER matrix - a military based target acquisition system. Carver matrix seriation diagram named after Martin Carver which is designed to represent the time lapse in use of recognizable archaeological entities such as floors and pits. Category: Disambiguation pages.
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
Words of estimative probability (WEP or WEP s) are terms used by intelligence analysts in the production of analytic reports to convey the likelihood of a future event occurring. A well-chosen WEP gives a decision maker a clear and unambiguous estimate upon which to base a decision. Ineffective WEPs are vague or misleading about the likelihood ...
Process hazard analysis. A process hazard analysis (PHA) (or process hazard evaluation) is an exercise for the identification of hazards of a process facility and the qualitative or semi-quantitative assessment of the associated risk. A PHA provides information intended to assist managers and employees in making decisions for improving safety ...
Intelligence source and information reliability. Intelligence source and information reliability rating systems are used in intelligence analysis. This rating is used for information collected by a human intelligence collector. [1][2] This type of information collection and job duty exists within many government agencies around the world. [3][4]
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [2]