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    Wiki Risk Analysis

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    12 views2 pages

    Wiki Risk Analysis

    Uploaded by

    rudy_tanaga
    Wiki Risk Analysis

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    2ri2017 Risk analysis - Wikipedia Risk analysis From Wikipedia, the free encyclopedia Risk analysis can be defined in many different ways, and much of the definition depends on how risk analysis relates to other concepts. Risk analysis can be "broadly defined to include risk assessment, risk characterization, risk communication, risk management, and policy relating to risk, in the contoxt of risks of concem to individuals, to public- and private-sector organizations, and to society at a local, regional, national, or global level.”!"! A useful construct is to divide risk analysis into two components: (1) risk assessment (identifying, evaluating, and measuring the probability and severity of risk and (2) risk management (deciding what to do about risks).7] Some books'! take a slightly different approach and define Lon risk management as the overarching concept, where risk International Space Station Apaet Risk ugh NASA's illustration showing high impact risk areas analysis is the component that seeks to identify and measure the risks and risk mitigation is determining what to do about for the International Space Station the risks. Risk analy n be qualitative or quantitative“) Qualitative risk analysis uses words or colors to identify and evaluate risks or presents a written description of the risk, and quantitative risk analysis (QRA) calculates numerical probabilities over the possible consequences. Quantitative risk analysis QRA secks to numerically assess probabilities for the potential consequences of risk, and is often called probabilistic risk analysis or probabilistic risk assessment (PRA). The analysis often seeks to deseribe the consequences in numerical units such as dollars, time, or lives lost. PRA often seeks to answer three questions:(*) 1, What can happen? (i.c., what can go wrong?) 2, How likely is it that it will happen? 3. Lfit does happen, what are the consequenc Thus, risk R can be described as a set of triplets, R={

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