Risk 177
Risk 177 : The objective (mathematical) or subjective (inductive) probability that some thing negative will occur (happen). Acceptable risk: Probability of a human and material loss of a certain degree that is perceived by the community or relevant authorities as tolerable compared to actions necessary to minimize this probability. syn. Calculated risk. Calculated risk: Potential that an event will take place is perceived as so small that the benefits from the hazard than cause this event (even if the hazard is enormous) outweights the possibility that the event will happen
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