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.
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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.
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References in periodicals archive ?
Using a top-down approach the three top divisions would conduct a risk assessment and each subdivision that is located in each global sector would conduct their own risk assessment.
Historically, risk assessment with various models has been used to predict the risk level of a pipeline or a segment with limited available information when the pipeline's condition is not fully understood because of the lack of technology to get all the data.
The techniques range from relatively simple qualitative methods of hazard identification and analysis to the advanced quantitative methods for risk assessment in which numerical values of risk frequency or probability are derived.
The One in Ten campaign runs for two weeks from September 3 where free risk assessments will be on offer at every single pharmacy outlet in the country - a total of 714 chemists.
This includes configuration of access rights on the basis of employee role in the risk assessment process; customization of matrix used to calculate the risks; and choosing relevant threats and vulnerabilities from the available databases.
The board's purpose is to review the results of the annual DON risk assessment from a corporate perspective and provide strategy, priorities, and other appropriate guidance for risk coverage.
Issued in 2006, the risk assessment standards now in effect emphasize the link among understanding the entity, assessing risks and the design of further audit procedures.
In the past decade, there has been a significant advancement in the application of the principles and practices of risk assessment to microbiological food safety issues.
restates and updates an earlier OMB memorandum on risk assessment. (16)
This Bank Secrecy Act risk assessment seminar will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area.
Jason will present 'Classification and Grouping of PFAS for Environmental Risk Assessment.' He and Jessica will present posters entitled 'Guidance for Assessing the Ecological Risks of Threatened and Endangered Species at Aqueous Film Forming Foam (AFFF)-Impacted Sites' and 'Framework for Assessing Risks to Threatened and Endangered Aquatic Life at PFAS Impacted Sites,' respectively, highlighting the 'Guidance for Ecological Risk Assessment of PFAS' that they developed for the Department of Defense under the Strategic Environmental Research and Development Program (SERDP).

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