Edward Welles
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Aug 15, 2017 · Acceptable risk is a risk exposure that is deemed acceptable to an individual, organization, community or nation. Acceptable risks are defined in terms of the probability and impact of a particular risk.
Jan 9, 2002 · For those who prefer to deal in terms of acceptable risk, it is defined as that risk which is tolerated in a given context based on current values of society. Examples of Acceptable Risk. Descriptions of acceptable risk levels in use are demonstrated by the following examples. 1. NASA-STD-8719.7, January 1998, defines acceptable risk ...
Accepting risk is the amount of financial uncertainty that an individual or an enterprise can retain without overly insuring, hedging, or mitigating. Accepting risk assumes various financial and organizational approaches meant to provide a financial buffer during risk materialization.
Acceptable risk. The level of potential losses a society or community considers acceptable given existing social, economic, political, cultural, technical, and environmental conditions.
Sep 29, 2022 · Accepting risk, or risk retention, is a conscious strategy of acknowledging the possibility for small or infrequent risks without taking steps to hedge, insure, or avoid those risks.
Jan 1, 2020 · At some point, someone needs to decide if risks are acceptable, but the general public has great difficulty with the concept of acceptable risk. Public perception plays a critical role in defining the risk versus development relationship.
The chapter offers several examples of the use of the term acceptable risk, and discussions that address the impossibility of achieving zero risk levels. It explores the inadequacy of “minimum risk” as a replacement term for “acceptable risk”.
