In line with the ISO 31000 standards, a risk assessment methodology is part of the risk management process and uses a combination of:
- identification
- analysis, and
- evaluation techniques.
7 Comments Click here to read/write comments
Topics: Risk management, risk methodologies, risk assessment
Under modern occupational risk management (ORM), the primary differences between risk assessment and risk measurement are:
- the types of data used, and
- the way parameters are derived.
Where sufficient hard data is available, risk measurement is often more reliable than risk assessment. However, developing a theoretically valid method of combining hard data and soft data is a very difficult process (OpRisk Advisory and Towers Perrin, 2010).
0 Comments Click here to read/write comments
Topics: risk methodologies, risk by industry, risk assessment
