Likelihood 02
Likelihood 02 :
A colloquial term for 'probability' or 'frequency'. When related to risk it is the probability of the stated consequence occurring, not the likelihood of the hazard or the particular scenario. Likelihood is affected by how often and how long the person (or structure etc) is exposed to the hazard and the reliability of the controls in place. Note: The difference between likelihood and probability. Probability is a numerical value whereas likelihood is a qualitative descriptor
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