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Risk appetite is the level of risk that an organization is prepared to accept in pursuit of its objectives, [1] before action is deemed necessary to reduce the risk. It represents a balance between the potential benefits of innovation and the threats that change inevitably brings.
NIST Definition: The process of identifying risks to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation of an information system. Part of risk management incorporates threat and vulnerability analyses and considers ...
Acceptable daily intake or ADI is a measure of the amount of a specific substance (originally applied for a food additive, later also for a residue of a veterinary drug or pesticide) in food or drinking water that can be ingested (orally) daily over a lifetime without an appreciable health risk. [1]
The term TWI should be reserved for when there is a well-established and internationally accepted tolerance, backed by sound and uncontested data. Although similar in concept to tolerable daily intake (TDI), which is of the same derivation of acceptable daily intakes (ADIs), TWI accounts for contaminants that do not clear the body quickly and ...
The World Health Organization (WHO) has introduced a TDI for melamine as 0.2 milligrams (mg)/kg body weight (b.w.) as of 2008. [5] Similarly the established TDI range for dioxin according to WHO is 1-4 picograms toxic equivalency/kg body weight as of 1998. [6]
The key question in determining whether a risk is ALARP is the definition of reasonably practicable. This term has been enshrined in the UK case law since the case of Edwards v. National Coal Board in 1949. The ruling was that the risk must be significant in relation to the sacrifice (in terms of money, time or trouble) required to avert it ...
A key risk indicator (KRI) is a measure used in management to indicate how risky an activity is.Key risk indicators are metrics used by organizations to provide an early signal of increasing risk exposures in various areas of the enterprise.
Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]