risk assessment
Hazard probability analysis
Risk assessment is the process of identifying potential hazards and evaluating the likelihood and severity of harm they might cause.
It's a systematic approach used across many fields—workplace safety, finance, healthcare, environmental planning—to determine what could go wrong and how bad it would be.
The risk assessment revealed that the old wiring posed a fire hazard.
Once risks are assessed, organizations can decide whether to eliminate them, reduce them, or simply accept them as part of doing business.
Methodical study of parts
- appraisalEstimation of worth
- judgmentReasoned decision-making capacity
- metricsStandards for assessment
- scoringEarning points in competition
rating · review · estimation · calculation · measurement · examination · scrutiny · audit
Preventive safety measure
- mitigationReduction of severity
- protocolsEstablished codes of conduct
- complianceAdhering to requirements
- regulationsEnforced rules and standards
oversight · safeguard · protection · barrier · surveillance · screening · training · emergency
Arranging for future events
- managementOrganizing and directing resources
- preventionStopping something before occurring
- contingencyUncertain possible event
- policyAdopted principle of action
prioritization · cost-benefit · SWOT · feasibility · proactive · reactive · appetite · tolerance
Chance something will occur
- chanceLikelihood of occurrence
- uncertaintyState of being unsure
- stochasticRandomly determined, statistically describable
- aleatoryGoverned by chance
variability · volatility · statistical · frequency · severity · consequence · impact · quantitative
Financial risk analyst
- actuarialOf risk calculation
- premiumsPayments for insurance coverage
- underwritingRisk evaluation and acceptance
- coverageExtent of inclusion
policyholder · deductibles · claims · reinsurance · liability · catastrophe · indemnity · beneficiary
Capacity to cause harm
- contaminationIntroduction of impurities
- exposureState of being unprotected
- pollutionEnvironmental harm from waste
- carcinogenCancer-promoting agent
biohazard · chemicals · asbestos · lead · mercury · pesticides · radioactivity · inhalation
analysis
Methodical study of parts
- appraisalEstimation of worth
- judgmentReasoned decision-making capacity
- metricsStandards for assessment
scoring · rating · review · estimation · calculation · measurement · examination · scrutiny · audit · benchmarking
precaution
Preventive safety measure
- mitigationReduction of severity
- protocolsEstablished codes of conduct
- complianceAdhering to requirements
regulations · oversight · safeguard · protection · barrier · surveillance · screening · training · emergency · lockout-tagout
planning
Arranging for future events
- managementOrganizing and directing resources
- preventionStopping something before occurring
- contingencyUncertain possible event
policy · prioritization · cost-benefit · SWOT · feasibility · proactive · reactive · appetite · tolerance · register
likelihood
Chance something will occur
- chanceLikelihood of occurrence
- uncertaintyState of being unsure
- stochasticRandomly determined, statistically describable
aleatory · variability · volatility · statistical · frequency · severity · consequence · impact · quantitative · qualitative
actuary
Financial risk analyst
- actuarialOf risk calculation
- premiumsPayments for insurance coverage
- underwritingRisk evaluation and acceptance
coverage · policyholder · deductibles · claims · reinsurance · liability · catastrophe · indemnity · beneficiary · exclusions
toxicity
Capacity to cause harm
- contaminationIntroduction of impurities
- exposureState of being unprotected
- pollutionEnvironmental harm from waste
carcinogen · biohazard · chemicals · asbestos · lead · mercury · pesticides · radioactivity · inhalation · ingestion
investment
Deploying capital for returns
default · liquidity · counterparty · Basel · exposure · hedge · diversification · downside · returns · regulatory
- Strategic AnalysisSWOT analysis, decision tree, game theory, contingency planning, resource allocation
- tactical awarenessspatial awareness, observation, focus, perception, foresight
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- strategystrategy, grand strategy, tactics, tactic, tactical
- business skillsmanagement, financial literacy, leadership, deal-making, delegation
- Decision-Makingchoice, poor judgment, sound judgment, informed decision, hasty decision
risk assessmentcrisis response
Action taken during emergencies
damage control · post-mortem analysis · firefighting · remediation · disaster recovery
risk assessmentgut instinct
Immediate unreasoned knowing
snap judgment · shooting from the hip · winging it · reckless abandon · flying blind
risk assessmentrecklessness
Careless disregard for danger
blind faith · willful ignorance · throwing caution to the wind · gambling · complacency
risk, risky, assessment, risked, risks, risking, assessed, reassess, assessments