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Risk assessment
Meaning
Noun
●
The
overall
process of
identifying
all the
risks
to and from an
activity
and
assessing
the potential impact of each risk.
●
The
determination
of the potential impact of an individual risk by
measuring
or otherwise
assessing
both the
likelihood
that it will
occur
and the impact if it should
occur
, and then
combining
the result
according to
an
agreed
rule
to give a
single
measure
of potential impact.
Sourced from
Wiktionary
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