Terms Flashcards
ALARP
As Low as Reasonable Practicle - A principle stating that risk should be reduced to a level that is as low as reasonable practicle, unless the it can be demonstrated tat the cost are in gross disproportion to the benefits gained
Risk
A,C,U - Risk is the consequences C of the activity A, and assosiated uncertainties U
Vulnerability
C, U|A - The consequences C and assosiated uncertainties, given an event A (Risk source)
Resiliance
The systems ability to restore to its basic functionality following an event, risk source. Is an aspect of vulnerability.
Safety
Acceptable level of risk, antonym of risk
Security
Acceptable level of risk, when we restricting risk to intentional, malicious acts by intellegent actors
Risk Characterization
A’, C’, Q (P og SoK), K
Black Swan
Extreme, surprising event relative to one’s knowledge
FAR
Fatal Accident Rate, expected fatalities per 100 mill exposed hours
PLL
Potential Loss of Lives,fatalities per year
ICAF
Implied Cost of Averting a Fatality
Subjective probability
(P|K) The assesors has the same degree of belief that event A will happen, as drawing a red ball out of an urn with 10 balls, containing x red balls
Frequentists probability
Is the fraction of time the event considered occurs if the situations can be repeated infinetely many times under similiar conditions. Captures variation.
IR
Individual Risk - Probability that a specific person is killed in a year.
Generic Risk Analysis
Covers generic concepts, principles, approaches and methods to understand, assess, characterize, communicate, manage and govern risk.
Applied Risk Analysis
Concepts, principles, approaches, methods and models for risk analysis for specific activities.
Risk mitigation
Reduction of vulnerability given an event
Risk management
Refers to all activities used to address risk:
- Reduction
- Avoidance
- Sharing
- Acceptance
Risk prevention
Lowering the probability or eliminating the risk source completely.
Pre-/Cautionary principle
If the consequences of the activity could be serious and subject to (pre: scientific) uncertainties, then cautionary measurement should be taken, or the activity should not be carried out.
Diagram with dread and newness
psychometric paradigm
Risk perception
Is a persons subjective judgement or appraisal of risk, taking into account social, cultural and psychological factors.
Multiattribute analysis
An approach where the goal is not to transform all various concerns into one dimention, but to provide judgements on each attribute, using both qualitative and quantitative methods
Reliability
The systems ability to work as intended
Imprecise probability
=> / <=
VSL
Value of a Statistic Life
Risk assessment
Risk analyse, risk evaluation. What can happen, how can it happen, what are the consequenes.
Risk Communication
Covers exchange or sharing of risk related data, information and knowledge among or between different target groups, such as stakeholders, consumers, media and general public.
Main aim is to improve the understanding of risk in order to make appropriate judgements and decisions.
Bias and heauristics
cognitive processes and mental shortcuts that influence how we perceive information
Affect
Anything related to emotions/persons feeling.
- dread
- fear
- lack of control
-unfamiliarity
Knowledge
Justified beliefs
Risk Science
The most updated and justified beliefs (knowledge) on concepts, principles, approaches and methods on how to understand, assess, characterize, communicate, perceive, manage and govern risk.
