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Risk Acceptance

3 replies [Last post]
Wed, 2006-08-30 18:23
Marcio Sampaio
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Joined: 7 Nov 2005
Posts: 658
Groups: Petro-Chem / Oil & Gas
Hello All,

Could u please tell me what Risk Acceptance means in Risk Analysis?

Regards.
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Replies

Fri, 2006-12-01 19:21
#1
Marcio Sampaio
User offline. Last seen 12 years 12 weeks ago. Offline
Joined: 7 Nov 2005
Posts: 658
Groups: Petro-Chem / Oil & Gas
Hello,

Do u know where i can get some articles or material abou Risck Acceptence Technique?

Regards.

Marcio Eduardo
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Sun, 2006-09-03 15:57
#2
Marcio Sampaio
User offline. Last seen 12 years 12 weeks ago. Offline
Joined: 7 Nov 2005
Posts: 658
Groups: Petro-Chem / Oil & Gas
Thanks a lot Colin, now it is clear to me.

Regards,

Marcio Eduardo.
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Fri, 2006-09-01 05:23
#3
Colin Cropley
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Joined: 1 Feb 2002
Posts: 57
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It means that after considering possible treatments of a risk (transfer of the risk to someone else eg, through insurance, mitigation through reduction of probability and/or impact, or acceptance), the chosen treatment is to do nothing. That is, accept the risk.
This is normally done because the risk cannot be mitigated or transferred or the cost of doing so is not justified.
For example, the risk of an earthquake may be accepted because it is too expensive to do anything more about it (apart from designing to earthquake codes).
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