Risk 116
Risk 116 :
Mathematically, expected loss; the probability of an accident multiplied by the quantified consequence of the accident (SSDC); an expression of the possibility of a mishap in terms of hazard severity and hazard probability (MIL-STD-882). Note: Hazard exposure is sometimes included (AFR 800-16); as defined in NHB 5300. 4(1D-2), The chance (qualitative) of loss of personnel capability, loss of system, or damage to or loss of equipment or property (NSTS 22254); a measure of both the probability and the consequence of all hazards of an activity or condition. A subjective evaluation of relative failure potential. In insurance, a person or thing insured (ASSE)
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