risk

(redirected from Cost of failure)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

risk

 [risk]
a danger or hazard; the probability of suffering harm.
attributable risk the amount or proportion of incidence of disease or death (or risk of disease or death) in individuals exposed to a specific risk factor that can be attributed to exposure to that factor; the difference in the risk for unexposed versus exposed individuals.
empiric risk the probability that a trait will occur or recur in a family based solely on experience rather than on knowledge of the causative mechanism. See also genetic risk.
genetic risk the probability that a trait will occur or recur in a family, based on knowledge of its genetic pattern of transmission. See also empiric risk.
relative risk for a disease, death, or other outcome, the ratio of the incidence rate among individuals with a given risk factor to the incidence rate among those without it.

risk

(risk), In idiomatic English one is at risk of, not for, a disease, injury, or other untoward event. Avoid redundant phrases such a possible risk and potential risk; an element of uncertainty is inherent in the meaning of the word.
The probability that an event will occur.

risk

(rĭsk)
n.
The possibility of suffering harm or loss; danger.

risk′er n.

risk

EBM
In clinical trials, a term referring to the possibility of harm or discomfort for study participants.

risk

Epidemiology The chance or likelihood that an undesirable event or effect will occur, as a result of use or nonuse, incidence, or influence of a chemical, physical, or biologic agent, especially during a stated period; the probability of developing a given disease over a specified time period. See Minimal risk Managed care The chance or possibility of loss. See Risk sharing Occupational medicine A value determined by the potential severity of the hazard and the frequency of exposure to the 'risky' substance or activity, usually understood to mean the probability of suffering from a particular disease Risk assessment The probability that something will cause injury, combined with the potential severity of that injury. See Absolute risk, Acceptable risk, Assigned risk, Attributable risk, Cancer risk, Cardiac risk, Dread risk, Hazard risk rating, High risk/high impact, Incremental risk, Lifetime risk, No significant risk, Nonattributable risk, Thick conception of risk, Thin conception of risk, Unknown risk.
Risks of disease
Infection
HBV  1:63,000
HCV 1:103,000
HIV 1:493,000
HTLV I/II 1:641,000
HAV  1:1,000,000
Other morbid conditions
MVA 1:6,700
Flood 1:450,000
Earthquake 1:600,000
Lightning 1:1,000,000

risk

(risk)
1. The probability that an event will occur.
2. The possibility of adverse consequences.

risk

(risk)
Probability that an event will occur.
References in periodicals archive ?
Literature on quality costing in manufacturing indicates that because of the way current accounting systems work, the cost of failure information is not readily available.
The cost of failure, both financial and in sporting terms, would have been immeasurable on the Gunners, who have consistently competed among the elite clubs of European football for more than a decade.
The second in command at the central bank reiterated calls for a pre-funded insurance scheme for savings deposits that is also risk-based to ensure the industry bears the cost of failure.
"However, because emissions are reducing due to the downturn this must not lead to complacency." The cost of failure to meet targets could be hundreds of millions of euro as international agreements demand hefty penalties.
"Now, more than ever, is the time to invest wisely because if organisations think that developing competence is expensive, they should also consider the cost of failure and mistakes."
The cost of failure will not just be measured in lost lives and suffering but also in lost integrity.
The consequence of that was that managers were too scared to risk a young player, the cost of failure was much too great.
"One driver behind simulation is the rising cost of failure with traditional experience-based, trial-and-error methods," says John Perdikoulias, president of Compuplast Canada, which supplies B-SIM simulation software.
The potential cost of failure is too appalling to contemplate.
Liverpool have the chance to make amends, with the cost of failure to pick up three points seemingly so much greater this time around with the thrilling championship race now in the home straight.
Economic studies support their replacement in the next period taking into account the probability and cost of failure risk.
Because pubs and clubs in Birmingham city centre are also counting the cost of failure.