ABSTRACT
Objectives 1. Explain the process of risk analysis. 2. Explain what is risk. 3. Compare and contrast quantitative and qualitative approaches to risk analysis. 4. Identify and discuss approaches related to using historical data in determin-
ing risk. 5. Explain the concept of uncertainty and how it impacts risk analysis. 6. Discuss the concept of acceptable risk and how we determine it. 7. Explain how we describe the likelihood and consequences of risks.
