Risk primer

Risk primer - Introductory Risk Primer Portions sourced...

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Introductory Risk Primer Portions sourced from Wikipedia Professor Doug Cerf Bren School of Environmental Science and Management Environmental Risk Management Winter 2008
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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.
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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
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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)
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Printed on recycled paper-actually better, not printed at all Panorama Trail, Yosemite National Park
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This note was uploaded on 08/06/2008 for the course ESM 286 taught by Professor Cerf during the Winter '08 term at UCSB.

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Risk primer - Introductory Risk Primer Portions sourced...

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