Definition(s)

Uncertainty

Degree to which a calculated, estimated, or observed value may deviate from the true value.

Source:API STANDARD 780, Security Risk Assessment Methodology for the Petroleum and Petrochemical Industries, First Edition, May 2013. Global Standards

Uncertainty

Degree to which a calculated, estimated, or observed value may deviate from the true value.

Sample Usage: The uncertainty in the estimate was due to a lack of information for the particular environment and situation.

Annotation:

  1. Uncertainty may stem from many causes, including the lack of information.
  2. The concept of uncertainty is useful in understanding that likelihoods and consequences can oftentimes not be predicted with a high degree of precision or accuracy.

Source: DHS Risk Lexicon, U.S. Department of Homeland Security, 2010 Edition. September 2010 Regulatory Guidance

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