Risk 165
Risk 165 :
The expectation of loss from hazards and their impact. Risk is a function of probability (likelihood) of a hazard occurrence and the impact (consequences) of a hazard on the target of the risk assessment. It connotes a relationship between the hazard and the target's vulnerability to the hazard. Risk can be addressed by managing probability (through mitigation) and/or managing impact (through mitigation, preparedness, response and recovery)
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