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What is the intersection of the assessed probability and severity of a hazard?
It is the risk.
The probability of an outcome that is unwanted occurring is called?
Risk
Probability and consequences are two variables that?
Comprise risk.
What step in the composite risk management process is focused on determining the probability and severity of a occurring?
Assess hazards is the step in the composite risk management process that is focused on determining the probability and severity of a hazard occurring.
In CRM What is the intersection of the assessed probability and severity of hazard process?
The risk.
What are the parameters of risk quantification and risk plan?
Probability and Impact
What is the risk of Safety while driving?
the risk is the probability of injury
What is a risk matrix?
A matrix that identifies a risk based on the severity and the probability of the risk happening.
What is risk assessment matrix?
A matrix that identifies a risk based on the severity and the probability of the risk happening.
What is the difference between risk and probability?
The risk associated with an event is the product of the probability of the event occurring and the hazard associated with the event.
What is the difference between risk and exposure?
An exposure consist of the potential financial effect of an event multiplied by its probability of occurrence and risk is with probability of occurrence. Thus an exposure is a risk times its financial consequences.
What is the intersection of the assessed probability and severity of the hazard of Composite Risk Management process?
The risk.
What is a assessment Matrix?
A matrix that identifies a risk based on the severity and the probability of the risk happening.
Which two factors determines the risk in the risk assessment matrix?
Probability and severity determine the risk level in the Risk Assessment Matrix.
What Is an expression of possible loss adverse outcome or negative consequence in terms of probability and severity?
Risk
What is intersection of the assessed probability and severity of a hazard?
It is the risk.
What is the intersection of the assessed probability and severity of a hazard?
It is the risk.
