Risk Evaluation
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Contents
Definitions
European Definitions
Other International Definitions
National Definitions
Australia
Risk evaluation is the process in which judgements are made on the tolerability of the risk on the basis of risk analysis and taking into account factors such as socioeconomic and environmental aspects. [1]
Risk evaluation is the process used to prioritise risks. [1]
Standard Definition
ISO/IEC 27000:2014
Process of comparing the results of risk analysis with risk criteria to determine whether the riskand/or its magnitude is acceptable or tolerable [2](based on the ISO Guide 73:2009[3]).
- Risk criteria are the terms of reference against which the significance of risk is evaluated [3]). They are based on organizational objectives, and external and internal context, and can be derived from standards, laws, policies and other requirements.
- Risk evaluation assists in the decision about risk treatment.
