Risk-Based Decision-Making FrameworkDecember 21st, 2022
FiledDecember 21st, 2022• Attribute: an observable aspect of a risky situation that has value or reflects a utility objective, such as safety or reliability. Changes in the Levels of Attributes are used to determine the Consequences of a Risk Event. The Attributes in a Cost-Benefit Approach should cover the reasons that a utility would undertake risk mitigation activities.