Risk analysis methodology
Risk analysis methods

Risk is generally characterized by two main parameters:

• its impact or severity G;

• its probability of occurrence P.

But it can also be characterized by other parameters: its nature (financial, human, natural, etc.), its origin (customer, regulation, etc.), its period of occurrence, etc.

The criticality C of the risk is then defined by combining the impact of the risk with its probability.

C = G × P

In certain sectors of activity, such as extreme environments or activities that pose a danger to humans (nuclear, space, nuclear physics, aeronautics, etc.), detectability D is a major parameter in risk characterization. In this case, criticality becomes: C = G × P × D.

Risk criticality allows risks to be ranked in relation to one another.

There are a multitude of tools available...