Risk analysis methodology
Risk analysis methods

Risk is generally characterized quantitatively by two main parameters:

• its impact or severity, denoted by G;

• its probability of occurrence, denoted by P.

It is customary to define the criticality of risk, denoted by C, as the combination of the impact of the risk and its probability, according to the formula: C = G × P.

In certain sectors of activity, and depending on the context of analysis, for example the study phase, production phase, or operational phase of a product, service, or process, detectability or detection, denoted by D, is added as a risk characteristic. In this case, criticality becomes: C = G × P × D.

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

There are...