Difference between revisions of "Likelihood"
(Created page with " Likelihood is the expected plausibility of an event to realise. =For non-intentional threats= Equals probability. =For Human intent= Uses attractivity becauses of t...") |
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| + | [[Category:Safety]] |
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| + | [[File:ae.png|25px|right|This is a page providing background in a specific field of expertise]]'''Likelihood''' is the expected plausibility of an event to realise. |
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| + | ==Description== |
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| − | Likelihood is the expected plausibility of an event to realise. |
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| + | Likelihood is one of the defining elements of [[risk]]. Usually expressed in the form of [[wikipedia:probability|probability]], it determines, alongside [[vulnerability]] and [[impact]], the chance of an unwanted situation occurring. |
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| − | =For non-intentional threats= |
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| + | Most commonly, likelihood can be quantified by statistical analysis. The likelihood of extreme weather events occurring, for instance, has been the subject of long and well-established study and has a solid statistical basis. Wherever statistical data can predict the future, likelihood can be interpreted to equal probability. |
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| − | Equals [[probability]]. |
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| − | =For Human intent= |
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| − | + | Where this is problematic, probability is sometimes substituted with attractiveness because of the [[risk#Problems with the use of probability|problems with the use of probability in determining the likelihood of human intent]]. |
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| + | {{references}} |
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Latest revision as of 14:02, 25 April 2013
Likelihood is the expected plausibility of an event to realise.
Description
Likelihood is one of the defining elements of risk. Usually expressed in the form of probability, it determines, alongside vulnerability and impact, the chance of an unwanted situation occurring.
Most commonly, likelihood can be quantified by statistical analysis. The likelihood of extreme weather events occurring, for instance, has been the subject of long and well-established study and has a solid statistical basis. Wherever statistical data can predict the future, likelihood can be interpreted to equal probability.
Where this is problematic, probability is sometimes substituted with attractiveness because of the problems with the use of probability in determining the likelihood of human intent.
Footnotes and references
