Risk 224
Risk 224 : The probability per unit time of the occurrence of a unit cost burden. The cost burden may be measured in terms of injuries (fatalities or days of disability) or other damage penalties (expense incurred) or total social costs (including environmental intangibles). Risk thus involves the integrated combination of (a) the probability of occurrences, (b) the spectrum of event magnitudes, and (c) the spectrum of resultant personal injuries and related costs. (Starr, Rudman, and Whipple 1976)
No records Found