Defining Elements of Risk Management - QT
Lesson Quicktakes cover the items that should be memorized from each of the wifiCFI Lessons. They do not cover all of the lesson details in-depth.
WHAT IS RISK?
The future impact of a hazard that is not controlled or eliminated.
TYPES OF RISK:
Total Risk = Sum of identified and unidentified risks
Identified Risk = Risk that has been determined.
Unidentified Risk = Risks not yet identified.
Acceptable Risk = Risk that is allowed to persist.
Unacceptable Risk = Risk that cannot be allowed to persist.
Residual Risk = Risk remaining after safety efforts have been fully employed.