ABSTRACT
This chapter looks at how we can measure risk in different ways. The first approach that is presented is the risk matrix, which is common way of illustrating the risk associated with individual hazards in a table. In addition to this, a number of quantitative measures of risk are also introduced. Risk to people can be expressed in terms of injury risk or fatality risk. Fatality risk measures that are described include PLL (Probable Loss of Life), IR (Individual Risk per year), FAR (Fatal Accident Rate), and FN curve (Frequency – Number of fatalities). Some consideration is also given to how to measure risk to the environment and risk to other assets.
