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) The process of determining the maximum acceptable level of overall risk to and from a proposed activity, then using risk assessment techniques to determine the initial level of risk and, if this is excessive, developing a strategy to ameliorate appropriate individual risks until the overall level of risk is reduced to an acceptable level.
A short history of : 1900 - 2002
- 1921: Frank Knight publishes
Risk, Uncertainty and Profit
, a book that becomes the keystone in the library.
University of Surrey website,
Risk Management History
- Even if it has deeper foundations, , as it is practiced today, is essentially a post-1960s phenomenon.
BBC News website,
How do you judge offenders' risk?
- Where release is recommended, a " plan" outlining how the offender will be managed in the community and detailing recommended licence conditions, is also submitted.
This term relates very specifically to the field of study denoted by the term and as such is a usage specific term. The formal definition of
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