BNET Business Dictionary
Business Definition for: Risk Assessment
- the determination of the level of risk in a particular course of action. Risk assessments are an important tool in areas such as health and safety management and environmental management. Results of a risk assessment can be used, for example, to identify areas in which safety can be improved. Risk assessment can also be used to determine more intangible forms of risk, including economic and social risk, and can inform the scenario planning process. The amount of risk involved in a particular course of action is compared to its expected benefits to provide evidence for decision making.
Wiktionary Definition for: Risk Assessment
- 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.
Additional Resources
- The Chemical Accident Risk Assessment Thesaurus: A Tool for Analyzing and Comparing Diverse Risk Assessment Processes and Definitions
- The Chemical Accident Risk Assessment Thesaurus CARAT is a database of the laws, regulations, guidance documents and definitions of terms related to the risk assessment of accidental releases of chemicals from fixed installations. The database also contains information on the application of risk assessment methodologies to specific examples of potential...
- White papers 2001-10-19
- NextPage® Introduces Document Retention Risk Assessment Tool; Easy-to-Use Online Assessment Tool Offers Organizations Insight into Document Retention Risk Levels According to Industry, Workforce Mobility and Other Key Factors
- DRAPER, Utah -- NextPage today announced the immediate availability of an easy-to-use online risk assessment tool that will help organizations determine the level of risk associated with their document retention needs and policies. The assessment tool, available at www.nextpage.com/assessment, can be completed in less than five minutes and generates a...
- Research articles 2006-09-18
- Framework for metals risk assessment released by EPA.(RULINGS & REGULATIONS)
- The U.S. EPA's Framework for Metals Risk Assessment, released March 8, is a guideline document about metals and describes how they should be considered in conducting human health and ecological risk assessment. The U.S. EPA's Framework for Metals Risk Assessment, released March...
- Research articles 2007-04-01
- EPA Seeks to Update Guidelines for Cancer Risk Assessment
- WASHINGTON, March 3 /U.S. Newswire/ -- In an effort to update key scientific risk assessment methodologies, EPA has released for public review and comment draft final guidelines for cancer risk assessment, as well as a supplemental guidance for assessing WASHINGTON, March 3 /U.S. Newswire/ -- In an effort to update...
- Research articles 2003-03-03
- Framework for risk assessment
- THE REGULATED community may have an inside view of the ways in which the EPA will assess environmental risk and develop subsequent regulations. A new, integrated approach to environmental risk assessment has recently been released by the EPA. "Framework for Cumulative Risk Assessment" is designed to advance the application of...
- Research articles 2003-08-01
- RMSI completed a pilot catastrophe risk-assessment study on behalf of The World Bank.(Around the Industry)
- RMSI completed a pilot catastrophe risk-assessment study on behalf of The World Bank. The study focused on risk assessment of housing and public-infrastructure assets that were impacted by such natural catastrophes as cyclones, earthquakes, and floods. The World Bank has used RMSI's deliverables from the project--including...
- Research articles 2005-09-01
- Business Risk Assessment
- FM Global has introduced Business Impact Analysis, a new risk assessment service that is designed to provide companies with a comprehensive financial analysis of business operations, helping to identify potential exposures that could affect their ability to operate profitably. Business Impact Analysis combines a corporate-level financial assessment with FM Global's...
- Research articles 2001-10-01
- Study Dramatically Lowers Risk Assessment of Formaldehyde
- A NEW RISK ASSESSMENT recently released by the Chemical Industry Institute of Toxicology concludes formaldehyde is up to 100,000 times less likely to cause cancer at low levels than the 1987 model still being used by the U.S. Environmental Protection Agency. CIIT, based in Research Triangle Park, NC, published...
- Research articles 2000-01-01
- Risk assessment becomes major issue in Congress
- Legislation requiring the use of risk assessment in federal regulatory proceedings has become a major focus in the 104th Congress. The Job Creation and Wage Enhancement Act of 1995 (HR 9), introduced by Rep. Bill Archer (R-Tex.), would require federal regulations to be based on risk assessment and sound scientific...
- Research articles 1995-03-01
- Predicting the Risk of Falling - Efficacy of a Risk Assessment Tool Compared to Nurses' Judgement: A Cluster-Randomised Controlled Trial [ISRCTN37794278]
- Older people living in nursing homes are at high risk of falling because of their general frailty and multiple pathologies. Prediction of falls might lead to an efficient allocation of preventive measures. Although several tools to assess the risk of falling have been developed, their impact on clinically relevant endpoints...
- White papers 2005-11-10
- Value at Risk: A Methodology for Information Security Risk Assessment
- This paper presents Value at Risk VAR, a new methodology for Information Security Risk Assessment. VAR summarizes the worst loss due to a security breach over a target horizon, with a given level of confidence. More formally, VAR describes the quantile of the projected distribution of losses over a given...
- White papers 2001-08-15
- Kroll Factual Data Releases State-of-the-Art Borrower Risk Assessment Tool
- LOVELAND, Colo. -- Kroll Factual Data, a subsidiary of Kroll Inc. and a leading provider of customized mortgage services, today announced an expansion of its suite of risk assessment services with the release of FactualID. A cutting-edge risk assessment engine, FactualID evaluates identity risk, occupancy risk, strawbuyer risk, and also...
- Research articles 2007-02-07
- Risk Assessment in Care and Protection: The Case for Actuarial Approaches
- The assessment of abuse is a highly emotionally charged activity. The requirement to provide an accountable and transparent assessment process requires the development of actuarial devices and clearly enunciated decision rules. Risk assessment requires the application of ecologically valid, evidence-based approaches. Such approaches, commonly transcribed into actuarial systems, are usually...
- White papers 2004-09-24
- Digital Defense Announces Risk Assessment Service by Personnel Trained in OCTAVE® Methodology via Carnegie Mellon
- SAN ANTONIO -- Digital Defense, Inc., a provider of network security compliance and risk management services, today announced an exciting addition to their Enterprise Risk Assessment Service. Two of their personnel, Rick Fleming and Tom DeSot, have completed formal training through the Carnegie Mellon University Software Engineering Institute in the...
- Research articles 2006-03-06
- FDA issues risk assessment.
- FDA released the risk assessment on the relationship between foodborne listeriosis and human health. This scientific analysis outlines clear measures industry, retailers and consumers can take to dramatically reduce the risk of this food-borne pathog FDA released the risk assessment on the relationship between foodborne...
- Research articles 2003-10-27
- Risk assessment for food terrorism now available.(Brief Article)
- FDA announced the availability of a risk assessment for food terrorism and other food safety concerns. FDA is making this document available to promote transparency by communicating publicly the risk to public health of acts of food terrorism, as wel FDA announced the availability of a...
- Research articles 2003-10-13
- BasePoint™ Announces Availability of Free Identity Theft Risk Assessment
- World Renowned Fraud Experts Team with LifeLock[R] to Shield Consumers from Identity Theft CARLSBAD, Calif. -- BasePoint Analytics[R], a leading provider of scientific fraud and risk analytic scoring solutions, today announced the availability of the BasePoint Identity Theft Risk Assessment. The free analytic assessment, which takes just minutes to...
- Research articles 2008-10-29
- Extrapolation in ecological risk assessment: Balancing pragmatism and precaution in chemical controls legislation. (Articles)
- EXTRAPOLATION Is A PRACTICAL NECESSITY IN ECOLOGICAL RISK ASSESSMENT, BUT THERE IS MUCH ROOM FOR IMPROVEMENT IN THE EXTRAPOLATION PROCESS Many national and international regulatory bodies require assessment of the ecological risks of industrial and agricultural chemicals. For example, the US Toxic Substances Control Act requires ecological risk...
- Research articles 2002-03-01
- Reassessing risk assessment: the question of whether to pursue the development of nanomaterials isn't just about weighing the pros (wondrous new technologies) and the cons (environmental catastrophe). The entire concept of environmental risk assessment ne
- Some environmentalists perceive the risk of nano-materials as too great for us to pursue developing them until we study them further. Many scientists disagree and say that the potential benefits outweigh the potential risks. But both sides are missing the point. Environmental risk assessment is the foundation of...
- Research articles 2004-01-01
- Chesapeake Bay program: An example of ecological risk assessment, The
- The Chesapeake Bay Program: An Example of Ecological Risk Assessment1 PETER L. DEFUR2 SYNOPSIS. Ecological risk assessment grew from earlier efforts of federal agencies to protect human health from chemical releases. Over the past several years, the U.S. Environmental Protection Agency (U.S. EPA) adapted the human health paradigm for use...
- Research articles 1997-12-01
