risk assessment

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Related to risk assessment: Risk analysis

risk assessment

A report that shows an organization's vulnerabilities and the estimated cost of recovery in the event of damage. It also summarizes defensive measures and associated costs based on the amount of risk the organization is willing to accept (the risk tolerance).

A "risk analysis" is the process of arriving at a risk assessment, also called a "threat and risk assessment." A "threat" is a harmful act such as the deployment of a virus or illegal network penetration. A "risk" is the expectation that a threat may succeed and the potential damage that can occur. See risk management and risk mitigation.

Risk assessment

An evaluation of potential consequences to humans, wildlife, or the environment caused by a process, product, or activity; including both the likelihood and the effects of an event. Also, qualitative and quantitative evaluation of the risk posed to human health or the environment by the actual or potential presence or use of specific pollutants.
References in periodicals archive ?
In some instance, it may be prudent to perform a litigation risk assessment as part of the tax planning process.
Beginning in April and continuing into May, a group of US investigators used the Delphi technique to obtain an expert risk assessment with minimal bias (22).
Instead of tempering current risk assessment, Ward and Bennett call for further studies into child abuse, the education of professionals involved with children and youth, and a re-evaluation of interventions of the child welfare system.
The FSIS risk assessment model "will lead us to strategies to further reduce the number of illnesses caused each year by Listeria monocytogenes," said Elsa Murano, under secretary for food safety.
The House passed this landmark risk assessment legislation as H.
to enable the understanding and practical implementation of best risk assessment practices amongst members of EFSA~s Scientific Committee/panels, their working groups and EFSA staff, in particular on horizontal aspects of the risk assessment workflow such as: (i) environmental risk assessment; (ii) variability and uncertainty in risk assessment; (iii) benchmark dose approach; and (iv) computational toxicology modelling tools in food and feed safety risk assessment, to strengthen the dissemination of risk assessment guidance and modelling practises and to ensure the uptake of guidance on cross-cutting risk assessment approaches already developed by EFSA amongst members of EFSA~s Scientific Committee/panels, their working groups and EFSA staff.
In risk assessment parlance, this dose would be a NOAEL of the critical effect.
Further the Justice asserts that it would be impossible for CSC to fulfill this mandate if an inmate's consent was required for risk assessment because consent could often be withheld.
More specifically, the ASB's Risk Assessments Task Force, a joint task force with the International Auditing Practices Committee, set out to review the auditor's consideration of the risk assessment process in the auditing standards, including the necessary understanding of a client's business and the relationships among inherent, control, fraud and other risks.

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