Probability assessment hazard-related incidents

A risk assessment is an analysis that addresses both (a) the probability of a hazards-related incident occurring and (b) the severity of harm or damage that may result. Effective application of hazard analysis... 

Define the Risk. Conclude with a statement that addresses the probability of a hazards-related incident or exposure occurring, the expected severity of adverse results, and a risk category (e.g., high, serious, moderate, or low). Using a risk assessment matrix for that purpose assists one in communicating on the risk level. 

For this primer, two-dimensional risk assessment matrices are discussed. They are displays of variations for two categories of terms the severity of harm or damage that could result from a hazards-related incident or exposure, and the probability that the incident or exposure could occur. They also show the risk levels that derive from the various combinations of severity and probability. A review of three- and four-dimensional risk assessment systems is given in Chapter 10, Three- and Four-Dimensional Numerical Risk-Scoring Systems. ... 

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