Risk Risk Airline security refers to a set of procedures as well as infrastructure designed to avoid security problems aboard aircraft. A related area is the much more widespread concept of airport security. In fact, traditionally in most countries, security for air travel has been entirely based in airports. An obvious exception, historically speaking, has been security measures aboard aircraft of the Israeli El Al airline. These include undercover armed security guards, as well as secure cargo holds. ...more on Wikipedia about "Airline security"
ALARP stands for As Low As Reasonably Practicable, and is a term often used in the milieu of safety-critical and high-integrity systems. The ALARP principle is that the residual risk shall be as low as reasonably practicable. ...more on Wikipedia about "ALARP"
Arrovian uncertainty is a term used in economics to describe calculable risk, where it is possible to calculate variation in possible outcomes, based on knowledge or an a priori belief. ...more on Wikipedia about "Arrovian uncertainty"
Bill Durodié is Senior Lecturer at Risk and Corporate Security at the Defence College of Management and Technology, Cranfield University, part of the Defence Academy of the United Kingdom. ...more on Wikipedia about "Bill Durodié"
Biosafety: prevention of large-scale loss of biological integrity, focusing both on ecology and human health. ...more on Wikipedia about "Biosafety"
The Cartagena Protocol on Biosafety is an international agreement on biosafety, as a supplement to the Convention on Biological Diversity. ...more on Wikipedia about "Cartagena Protocol on Biosafety"
Cindynics (from the Greek kindunos, "danger"), is the science of risks. ...more on Wikipedia about "Cindynics"
Credit risk is the risk of loss due to a counterparty defaulting on a contract, or more generally the risk of loss due to some "credit event". Traditionally this applied to bonds where debt holders were concerned that the counterparty to whom they've made a loan might default on a payment ( coupon or principal). For that reason, credit risk is sometimes also called default risk. ...more on Wikipedia about "Credit risk"
The risk that a company will not have adequate cash flow to meet financial obligations. ...more on Wikipedia about "Financial risk"
Financial risk management is the practice of creating value in a firm by using financial instruments to manage exposure to risk. Similar to general risk management, financial risk management requires identifying the sources of risk, measuring risk, and plans to address them. As a specialization of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk. ...more on Wikipedia about "Financial risk management"
An insurable risk is a risk that meets the ideal criteria for efficient insurance. The concept of insurable risk underlies nearly all insurance decisions. ...more on Wikipedia about "Insurable risk"
Interest rate risk is the risk that the relative value of a security, especially a bond, will worsen due to an interest rate increase. ...more on Wikipedia about "Interest rate risk"
Founded in June 2003 on the initiative of the Swiss government, the International Risk Governance Council (IRGC) is an independent foundation which aims to support governments, business and other organizations and to foster public confidence in risk governance and in related decision-making by: ...more on Wikipedia about "International Risk Governance Council"
Knightian uncertainty is a term used in economics to describe risk which is immeasurable, it is not possible to calculate it. ...more on Wikipedia about "Knightian uncertainty"
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Liquidity risk arises from situations in which a party interested in trading an asset cannot do it because nobody in the market wants to trade that asset. Liquidity risk becomes particularly important to parties who are about to hold or currently hold an asset, since it affects their ability to trade. ...more on Wikipedia about "Liquidity risk"
Market risk is the risk that the value of your investment will decrease due to moves in market factors. The four standard market risk factors include: ...more on Wikipedia about "Market risk"
According to §644 of International Convergence of Capital Measurement and Capital Standards, known as Basel II, operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Although the risks apply to any organisation in business it is of particular relevance to the banking regime where regulators are responsible for establishing safeguards to protect against systemic failure of the banking system and the economy. The Basel II definition includes legal risk, but excludes strategic risk: i.e. the risk of a loss arising from a poor strategic business decision. This definition also excludes reputational risk (damage to an organisation through loss of its reputation or standing) although it is understood that a significant but non-catastrophic operational loss could still affect its reputation possibly leading to a further collapse of its business and organisational failure. ...more on Wikipedia about "Operational risk"
The precautionary principle, a phrase first used in English circa 1988, is the idea that if the consequences of an action are unknown, but are judged to have some potential for major or irreversible negative consequences, then it is better to avoid that action. The principle can alternately be applied in an active sense, through the concept of "preventative anticipation" ** , or a willingness to take action in advance of scientific proof of evidence of the need for the proposed action on the grounds that further delay will prove ultimately most costly to society and nature, and, in the longer term, selfish and unfair to future generations. In practice the principle is most often applied in the context of the impact of human civilization or new technology on the environment, as the environment is a complex system where the consequences of some kinds of actions are often unpredictable. ...more on Wikipedia about "Precautionary principle"
The pseudocertainty effect is a concept from prospect theory. It refers to people's tendency to make risk-averse choices if the expected outcome is positive, but risk-seeking choices to avoid negative outcomes. Their choices can be affected by simply reframing the descriptions of the outcomes without changing the actual utility. ...more on Wikipedia about "Pseudocertainty effect"
Risk is the potential harm that may arise from some present process or from some future event. In everyday usage, "risk" is often used synonymously with "probability", but in professional risk assessments, risk combines the probability of a negative event occurring with how harmful that event would be. ...more on Wikipedia about "Risk"
Risk assessment is a step in the risk management process. Risk assessment is measuring two quantities of the risk, the magnitude of the potential loss, and the probability that the loss will occur. ...more on Wikipedia about "Risk assessment" This article is made for shortopedia shortopedia
Risk aversion is a concept in economics, finance, and psychology explaining the behaviour of consumers and investors under uncertainty. Risk aversion is the reluctance of a person to accept a bargain with an uncertain payoff rather than another bargain with a more certain but possibly lower expected payoff. The inverse of a person's risk aversion is sometimes called their risk tolerance. For a more general discussion see the main article risk. ...more on Wikipedia about "Risk aversion"
Generally, Risk Management is the process of measuring, or assessing risk and then developing strategies to manage the risk. In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Traditional risk management, which is discussed here, focuses on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death, and lawsuits). Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments. Regardless of the type of risk management, all large corporations have risk management teams and small groups and corporations practice informal, if not formal, risk management. ...more on Wikipedia about "Risk management"
In economics, the term risk neutral is used to describe an individual who cares only about the expected return of an investment, and not the risk ( variance of outcomes or the potential gains or losses). A risk-neutral person will neither pay to avoid risk nor actively take risks. ...more on Wikipedia about "Risk neutral"
Risk perception is the subjective judgment that people make about the characteristics and severity of a risk. The phrase is most commonly used in reference to natural hazards and threats to the environment or health, such as nuclear power. Several theories have been proposed to explain why different people make different estimates of the dangerousness of risks. Two major families of theory have been developed by social scientists: the Psychometric Paradigm and Cultural Theory. ...more on Wikipedia about "Risk perception" Who is http://www.shortopedia.com?
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