Definition(s)
Risk Assessment Methodology
Set of methods, principles, or rules used to identify and assess risks and to form priorities, develop courses of action, and inform decision making.
Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global Standards
Risk Assessment Methodology
Set of methods, principles, or rules used to identify and assess risks and to form priorities, develop courses of action, and inform decision making.
Sample Usage: The Maritime Security Risk Analysis Model (MSRAM) is a risk assessment methodology used to assess risk at our Nation’s ports.
Source: DHS Risk Lexicon, U.S. Department of Homeland Security, 2010 Edition. September 2010 Regulatory Guidance