Risk 240
Risk 240 : The likelihood and extent to which a hazardous event has the potential to cause damage to people, plant or equipment. The product of the expected frequency (events/unit time) and the consequences (effects/event) of a single hazardous event or group of hazardous events. Typically, it is used as a measure of potential economic loss or human injury in terms of the probability of the loss or injury occurring and the magnitude of the loss or injury if it occurs
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