Search results
Results From The WOW.Com Content Network
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).
Risk management is the identification, ... Furthermore, evaluating the severity of the consequences (impact) is often quite difficult for intangible assets. Asset ...
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] [2] 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] [3]
Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]
Performing a probabilistic risk assessment starts with a set of initiating events that change the state or configuration of the system. [3] An initiating event is an event that starts a reaction, such as the way a spark (initiating event) can start a fire that could lead to other events (intermediate events) such as a tree burning down, and then finally an outcome, for example, the burnt tree ...
An erosion gully in Australia caused by rabbits, an unintended consequence of their introduction as game animals. In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen.
Change impact analysis is defined by Bohnner and Arnold [4] as "identifying the potential consequences of a change, or estimating what needs to be modified to accomplish a change", and they focus on IA in terms of scoping changes within the details of a design.
Consequence scoring is based on a value system that considers death and injury, primary and secondary economic impacts, environmental impact, national security impact and symbolic impact. The values and scales for these consequences are determined by the USCG leadership. The values are intended to represent those of the American people ...