Risk primer - Introductory Risk Primer Portions sourced...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Introductory Risk Primer Portions sourced from Wikipedia Professor Doug Cerf Bren School of Environmental Science and Management Environmental Risk Management Winter 2008
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Printed on recycled paper-actually better, not printed at all Risk Definition Risk is the potential impact (positive or negative) to an asset or some “characteristic of value” that may arise from some present process or from some future event . In everyday usage, "risk" is often used synonymously with "probability" and restricted to negative risk or threat . In professional risk assessments, risk combines the probability of an event occurring with the impact of that event.
Image of page 2
Printed on recycled paper-actually better, not printed at all The engineering definition of risk Example (1): Event: Driving a car in town Probability of accident:.02, 700 events per year, $1,000 deductible/event Risk: .03 (must be evaluated against a benchmark) Example (2): bike riding with and without a helmet
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Printed on recycled paper-actually better, not printed at all Direction of Risk Upside risk versus downside risk The magnitude may vary Examples bungee jumping Hiking the Panorama Trail in Yosemite National Park (see next page)
Image of page 4
Printed on recycled paper-actually better, not printed at all Panorama Trail, Yosemite National Park
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern