Risk 118
Risk 118 : Measure that takes into consideration the likelihood of occurrence and the consequence of a hazard to a population or property. Types of risk include the following: (1) Unacceptable. Risk to a population or property that is identified and cannot be tolerated under existing law. Unacceptable risk is the part of the identified risk that must be either eliminated or controlled. (2) Acceptable. Risk to a population or property that is identified and allowed to persist without further engineering or management action. (3) Residual. Risk to a population or property remaining after the system safety efforts have been employed. Residual risk is the sum of the known acceptable risk and the unidentified (unknown) risk. This is the total risk to the public. Although unidentified risk cannot be directly measured, it is accounted for through risk mitigation measures. (5) Individual. The likelihood of a casualty to an individual member of the uninvolved public. (6) Collective. Expected average number of casualties to members of the uninvolved public
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