A decision based on what constitutes an acceptable level of risk
A risk acceptance decision is one based on what constitutes an acceptable level of risk.
Risk acceptance in composite risk management is a determination of what is an acceptable risk. One needs to determine what loss is acceptable and what loss is probable to determine if the loss is an acceptable risk.
A risk acceptance decision is one based on what constitutes an acceptable level of risk.
A decision based on what constitutes an acceptable level of risk
A decision based on what constitutes an acceptable level of risk
Risk assessment is a process of understanding types of bad things that could occur, likely-hood of those bad things to occur and gravity of the effects. Risk assessment decision helps to lower risk as much as possible. Sometimes the risk will be acceptable and in other circumstances risk must change to accept. To reduce risk, action must be taken to manage it. These actions taken to reduce the impact must provide more benefit than it costs. They must be acceptable by the stakeholders.
An acceptable risk is a risk that you are willing to take. If you cross the street, you might be hit by a car, but most people are willing to cross the street anyway. The risk is acceptable.
An acceptable risk is a risk that you are willing to take. If you cross the street, you might be hit by a car, but most people are willing to cross the street anyway. The risk is acceptable.
A necessary risk with benefits that outweigh the costs
A necessary risk with benefits that outweigh the costs
A necessary risk with benefits that outweigh the costs
A necessary risk with benefits that outweigh the costs