How to measure Risk

Risk Assessment
Hazards to Impacts

How to measure Risk...

Risk assessment is the process that tries to estimate the amount of risk. While not a scientitifc process it can give an idea about the possible priorities for action. The calcualtion is to multiply the danger/hazard with the likelihood of it occurring. Then compare different impacts of work to decide on priorities

Risk assessment combines the amount of possible "harm" with the "likelihood" of it occurring. Multiply them together to produce an estimate of risk.

ISO requires somebody to decide what are "SIGINICANT"risks.

How is this decided/defined? Not easily as the concerns alter over time, and in different places.

There is greater concern for the hole in the ozone layer in temperate climes as that is where damage is most likley to occur. Whereas there is a more general concern about climate change/global warming as that will impact on everyone. Climate change now generally conisdered the most important RISK FACTOR (explain), so should be taken into account everywhere.

Risk - ultimately subjective not objective. Butprovided you recognisewhere the person undertaking the risk assessment isc coming from /looking at, then OK as it is a matter for priroritiorising not producing a thesis.

(ISO uses the words affect cf impacts - check out)