Risk-based Decision Making
Determination of a course of action predicated primarily on the assessment of risk and the expected impact of that course of action on that risk
Sample Usage: After reading about threats and vulnerabilities associated with vehicle explosives, she practiced risk-based decision making by authorizing the installation of additional security measures.
Annotation: Risk-based decision making uses the assessment of risk as the primary decision driver, while risk-informed decision making may account for multiple sources of information not included in the assessment of risk as significant inputs to the decision process in addition to risk information. Risk-based decision making has often been used interchangeably, but incorrectly, with risk-informed decision making.
Source: DHS Risk Lexicon, U.S. Department of Homeland Security, 2010 Edition. September 2010 Regulatory Guidance