acceptable risk


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Related to acceptable risk: Risk assessment

acceptable risk

[ak¦sep·tə·bəl ′risk]
(geophysics)
In seismology, that level of earthquake effects which is judged to be of sufficiently low social and economic consequence, and which is useful for determining design requirements in structures or for taking certain actions.
References in periodicals archive ?
Conform to the pre-defined risk matrix the decreased likelihood value implies the acceptable risk level one (cf.
The final details of the project's execution are still under discussion and will be defined to ensure 'an effective scheme in the best interest of the project', as well as an acceptable risk profile for the parties involved, says METKA
Our panel will consider key issues as probability neglect, cost neglect, and acceptable risk.
We are committed to a prudent and acceptable risk management framework while playing a supportive role to the local economy.
We are committed to a prudent and acceptable risk management framework whilst playing a supportive role to the local economy".
However, there is a level of acceptable risk that everyone has to adopt before they look at security.
Carrying on with the current arrangements is not acceptable and we need to arrive at a position where factual evidence and financial management is based on an agreed level of acceptable risk being adopted in order to protect the Council.
An acceptable risk is often 1 in 106 additional events over a lifetime.
If I had to cite just one contribution Tom Ryan has made to CVS--and he's made many --it would be the fact that he brought a culture of acceptable risk to an organization that could perhaps accurately be described, before Tom's arrival, as risk-averse or conservative.
If the capital cost and operating costs of energy systems can be reduced we can get commercial investors to see low-carbon energy as an acceptable risk.
He explains the development of written programs, the identification and mitigation of hazards, the development of a safe workforce through communications, and motivational techniques including behavior-based safety, involvement, and training, as well as tracking acceptable risk and how to comply with OSHA regulations.