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DEFINITIONS

Adverse consequence: The most likely thing to result from an encounter between something of value and a hazard.

Data collection process: An ongoing part of the PRMM process which provides the information needed for a meaningful analysis.

Decision-maker - a person or group with the power or authority to make decisions. *

Defence: A physical or administrative measure to limit, reduce, or prevent an adverse consequence.

Dialogue - a process for two-way communication that fosters shared understanding. It is supported by information. *

Events diagram: A tool for summarizing, documenting, and communicating the development of a risk scenario. Brings together the events in a graphic form by indicating what can happen and why.

Hazard - a source of potential harm, or a situation with a potential for causing harm, in terms of human injury, damage to health, property, the environment, and other things of value, or some combination of these. *

Hazard identification - the process of recognizing that a hazard exists and defining its characteristics.*

Loss - an injury or damage to health, property, the environment, or something else of value. *

Organization - a company, corporation, firm, enterprise, or institution, or part thereof, whether incorporated or not, public or private, that has its own functions and administration. *

Residual risk - the risk remaining after all risk control strategies have been applied. *

Risk - the chance of injury or loss as defined as a measure of the probability and severity of an adverse effect to health, property, the environment, or other things of value. *

Risk analysis - the systematic use of information to identify hazards and to estimate the chance for, and severity of, injury or loss to individuals or populations, property, the environment, or other things of value. *

Risk assessment - the overall process of risk analysis and risk evaluation. *

Risk communication - any two-way communication between stakeholders about the existence, nature, form, severity, or acceptability of risks.*

 Risk control option - an action intended to reduce the frequency and/or severity of injury or loss, including a decision not to pursue the activity. *

Risk control strategy - a program which may include the application of several risk control options. *

Risk estimation - the activity of estimating the frequency or probability and consequence of risk scenarios, including a consideration of the uncertainty of the estimates. *

Risk evaluation - the process by which risks are examined in terms of costs and benefits, and evaluated in terms of acceptability of risk considering the needs, issues, and concerns of stakeholders. *

Risk information library - a collection of all information developed through the risk management process. This includes information on the risks, decisions, stakeholder views, etc. *

Risk level: An estimate of the probability that a hazard will involve an adverse consequence and of the severity of that adverse consequence.

Risk management - the systematic application of management policies, procedures, and practices to the tasks of analyzing, evaluating, controlling, and communicating about risk issues. *

Risk perception - the significance assigned to risks by stakeholders. This perception is derivedfrom the stakeholders' expressed needs, issues, and concerns. *

Risk scenario - a defined sequence of events with an associated frequency and consequences. *

Stakeholder - any individual, group, or organization able to affect, be affected by, or believe it might be affected by, a decision or activity. The decision-maker(s) is a stakeholder. *

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