Definition(s)
Risk Evaluation
Process of comparing the estimated risk against given risk criteria to determine the significance of the risk.
Other Related Terms and Definitions:
ISO Guide 73 – Process of comparing the estimated risk against given risk criteria to determine the significance of the risk.
Source: International Association of Drilling Contractors, Appendix 2 to Health, Safety and Environment Case Guidelines for Offshore Drilling Contractors, Issue 3.3.2, February 2010. IADC Guidelines
Risk Evaluation
Process of comparing the results of risk analysis with risk criteria to determine whether the risk and/or its magnitude is acceptable or tolerable
[SOURCE: ISO Guide 73:2009]
- Note 1 to entry: Risk evaluation assists in the decision about risk treatment.
Source: ISO/IEC 27000:2014, Information technology — Security techniques — Information security management systems — Overview and vocabulary, Third Edition, January 2014. Global Standards
Risk Evaluation
Judgement, on the basis of risk analysis, of whether a risk is tolerable.
Source: ISO 17776:2000, Petroleum and natural gas industries – Offshore production installations – Guidelines on tools and techniques for hazard identification and risk assessment. Global Standards
Risk Evaluation
Process of comparing the results of risk analysis (3.6.1) with risk criteria (3.3.1.3) to determine whether the risk (1.1) and/or its magnitude is acceptable or tolerable. NOTE Risk evaluation assists in the decision about risk treatment (3.8.1).
Source: ISO Guide 73:2009(E/F), Risk Management – Vocabulary, First Edition, 2009. Global Standards
Risk Evaluation
Procedure based on the risk analysis to determine whether the tolerable risk has been achieved.
Source: ISO/IEC Guide 51:1999, Safety aspects – Guidelines for their inclusion in standards, Global Standards
Risk Evaluation
“Risk evaluation” means the process by which risks are examined in terms of acceptability of the risk considering
- regulatory requirements,
- needs, issues, and concerns of those affected by, or potentially affected, by the risk, and
- what is reasonably practicable under the given circumstances.
Source: Nova Scotia Offshore Petroleum Occupational Health & Safety Requirements, Canada-Nova Scotia Offshore Petroleum Board, Canada, December 2000. Regulations