Risk assessment is the fortitude of quantitative or qualitative importance of risk connected to a real circumstances and a recognized hazard. Quantitative risk assessment requires calculations of two apparatus of risk, the extent of the possible loss, and the possibility that the loss will happen. Acceptable risk is a risk that is understood and tolerated regularly because the cost or complexity of implementing an effectual countermeasure for the linked susceptibility exceeds the expectation of loss.
Process of Risk Assessment
