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For example, the American Food and Drug Administration (FDA) regulates food safety through risk assessment, while the EFSA does the same in EU. [31] An occupational risk assessment is an evaluation of how much potential danger a hazard can have to a person in a workplace environment.
LOPA is a risk assessment undertaken on a 'one cause–one consequence' pair. The steps of a LOPA risk assessment are: [4] Identify the consequences, using a risk matrix; Define the risk tolerance criteria (RTC), based on the tolerable/intolerable regions on the risk matrix; Define the relevant accident scenario, e.g. mechanical or human failure
A simple element of risk quantification is often introduced in the form of a risk matrix, as in preliminary hazard analysis (PreHA). The selection of the methodology to be used depends on a number of factors, including the complexity of the process, the length of time a process has been in operation and if a PHA has been conducted on the ...
Risk management is defined for the purposes of the Codex Alimentarius Commission as "The process, distinct from risk assessment, of weighing policy alternatives, in consultation with all interested parties, considering risk assessment and other factors relevant for the health protection of consumers and for the promotion of fair trade practices, and, if needed, selecting appropriate prevention ...
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).
In extremely complex systems, this can be very high, and could be the limiting factor in practicability of risk reduction, although according to UK HSE guidance, cost alone should never be a justification for taking extra safety risks. Determining that a risk has been reduced to ALARP involves an assessment of the risk to be avoided, of the ...