risk assessment

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risk assessment

Social medicine
As refers to patient care in the UK, the evaluation of the risks to a person’s health based on his or her needs for living independently, weighed against the likely outcome for the individual, his or her carers or staff, and society, if assistance is not provided.

risk assessment

Managed care An activity that IDs risks and estimates their probability and the impact of their occurrence; RA is integral to system development as a means of estimating damage, loss, or harm that could result from a failure to develop individual system components. See Dose response assessment, Hazard identification, Risk characterization Toxicology The process by which new chemical substances are evaluated for their potential impact on human health, a process that entails determining its toxicity and number of people exposed to it. See Ames test, Morbidity, Toxicity testing.

risk as·sess·ment

(risk ă-ses'mĕnt)
Analysis of risks involved prior to action being taken.

risk assessment

A study of a patient, taking into account all known relevant factors, done for the purpose of trying to determine the probability that that person will develop a particular disease or, if the disease is already present, the probability that the person will suffer exacerbation of it or death from it.

risk assessment

process essential to health and safety at work and clinical governance that is carried out regularly by a competent person to identify actual/potential risk, i.e. identification and record of actual/potential hazards, decision whether existing risk precautions are adequate, delineation of action plan to resolve unresolved hazards, and regular reassessment Table 1
Table 1: Principles of risk control
PrincipleExample of risk control action
Avoid risk where possibleUse a known non-hazardous substance
Deal with the risk at sourceRepair faults rather than erect a notice stating the fault. Warnings of hazard are essential, but warnings never reduce risk to the individual (e.g. all cigarette packets carry dire warnings of the effects of smoking, but the warning does not minimize the risk to the individual who is exposed directly or indirectly to cigarette smoke)
Adapt work/workplace to suit the needs of the individualCorrect-height chairs; non-glare computer screens; no one (including patients) should have to tolerate substandard work conditions
Embrace advances in technology to minimize riskUse of central vacuum (bagless) nail drills, to avoid the need to empty dust bags and thus avoid inhalation of a dust hazard
Include risk prevention measuresWrite and comply with work-related risk prevention policies and protocols, such as the need for regular rest breaks to prevent repetition injuries
Apply collective risk prevention strategiesJob-related tasks should be reviewed by management to ensure the principle of universal risk prevention
Promote understanding of the nature of riskBoth employers and employees need education to ensure that risk in all respects is identified and managed though action, training and education
Maintain a good culture of health and safety in the workplaceOrganizational recognition and recruitment of all stake-holders (including patients and ancillary staff) in risk assessment and prevention

risk as·sess·ment

(risk ă-ses'mĕnt)
Determination of possible future disease by identifying risk factors in comparison with possible protective factors.
References in periodicals archive ?
The chief limitation in the Dohmen and Falk study is the method used to assess risk tolerance.
A related literature has studied gender differences in portfolio allocation within retirement plans without necessarily attributing the difference to risk tolerance.
Also using the 1992 Survey of Consumer Finances, Grable and Lytton (1998) employed multiple discriminant analyses to separate and classify individuals into risk tolerance categories against respondents' demographic characteristics.
doing a thorough search for a bond that better meets a client's unique risk tolerance or individual portfolio needs.
With FinaMetrica Plus, we've made it easier for advisors and wealth managers across multiple service channels in a large business to measure risk tolerance consistently and reliably.
Monitoring differences between risk tolerance and portfolio risk scores will enable advisors and registered reps to provide better, more suitable portfolios to clients and have more enriched conversations about expectations.
Employees with conservative or moderate risk tolerance who didn't rebalance after the strong equity gains of the 1990s were probably caught with a more aggressive portfolio than they had wanted.
We believe FinaMetrica's Risk Profiling System offers us an insightful tool to measure our clients' risk tolerance in a more meaningful way," said David Geller, CEO and co-founder of GV Financial Advisors.
The longer you have [until retirement], the greater your risk tolerance, generally," says Eugene A.
And a clear majority said "go for it" or "give it a shot" when asked about an automatic asset allocation program that would place them in default investment options based on their risk tolerance and years to retirement.
But new research from FinaMetrica, a company that helps financial advisors properly assess client risk tolerance, found similar risk tolerance levels between millennials and people of older generations.
All of the planners we spoke to typically spend many hours talking with new clients to assess their risk tolerance and investment horizons--in other words when they expect to need to draw from their portfolios.