Search results
Results from the WOW.Com Content Network
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
When used as part of an aviation hazard analysis, "Severity" describes the outcome (the degree of loss or harm) that results from an occurrence (an aircraft accident or incident). When categorized, severity categories must be mutually exclusive such that every occurrence has one, and only one, severity category associated with 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.
The risk matrix examples in the article use ordinal scales. When the scales are ordinal, the mapping of probability and consequence to risk level cannot be objective. The risk matrix itself defines the mapping and can neither be said to be right nor wrong. The risk matrix is unauditable when the scales are ordinal.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Hoshin Kanri (Japanese: 方針管理, "policy management") [1] is a 7-step process used in strategic planning in which strategic goals are communicated throughout the company and then put into action. [2] [3] The Hoshin Kanri strategic planning system originated from post-war Japan, but has since spread to the U.S. and around the world.
A Catholic nun was arrested by Italian police on Thursday for bringing messages for the mafia to prisoners, police said in a news statement. Sister Anna Donelli acted on several occasions as an ...
The Haddon Matrix is the most commonly used paradigm in the injury prevention field. Developed by William Haddon in 1970, the matrix looks at factors related to personal attributes, vector or agent attributes and environmental attributes; before, during and after an injury or death. By utilizing this framework, one can then think about ...