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 What is risk, and how can it be expressed? Different international standards, such as the AS/NZS 3460 Risk Management Standard, the COSO ERM framework and the ISO 31000 Risk Management Standard do not provide adequate guidance for risk assessments and lack the necessary precision. [ ... ]  The article lists and discusses eight risk definitions, and then suggests an alternative and comprehensive definition that captures all aspects of risk. [ ... ]  In this paper safety and security are brought together in a unifying risk and vulnerability framework that covers both accidental and malicious events. [ ... ]  It is only when the consequences of actions and events are uncertain that these actions and events are truly risky. [ ... ] | | |
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2011/08/22 
