4.7 Fundamentals of Risk Assessment Methodology
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Additional readings
The United States Environmental Protection Agency developed a web risk assessment portal.
It contains a wealth of information on the many different elements comprising a risk assessment exercise.
Fundamentals of Risk Assessment Methodology
Risk assessment methodology usually entails the following 4 steps:
- Analyze risks
- Analyze impacts / effects
- Estimate probability / risk / impact
- Manage risk / consider mitigating measures
- Determine exposure
- Exposure = Risk + Impact
- Take a decision
- Monitor results
Last modified: Friday, 14 March 2014, 9:34 AM