4 Part2 Risk 2 (第四份).pdfVIP

Risk assessment and response Framework for assessing risk • Risk is assessed by considering each identified risk in terms of two variables: • – its hazard (or consequences or impact) and, • – its probability of happening (or being realised or crystallising’). • The most material risks are those identified as having high impact/hazard and the highest probability of happening. Risks with low hazard and low probability will have low priority whilst between these two extremes are situations where judgement is required on how to manage the risk. Framework for assessing risk • In practice, it is difficult to measure both variables with any degree of certainty and so if is often sufficient to consider each in terms of relative crude metrics such as high/medium/low’ or even high/low’. The framework can be represented as a map’ of two intersecting continuums with each variable being plotted along a continuum. Objective and subjective risk perception • In some instances the assessment can be made with a high degree of certainty, maybe even scientific accuracy. In these circumstances the risks can be objectively assessed. • In other instances however quantitative accuracy is not possible and the risks have to be subjectively assessed. How accurate these judgements will depend on the knowledge and skills of the person making the judgement, also the information available and the factors that may inf