Quantitative Risk Assessment for Business Owners

31 Mar

Risk assessment is the evaluation of probability of hazards in real-life situations in the workplace.  It determines the level of risk through careful consideration of probable assumptions and some uncertainties in a given situation.  Within each aspect of the business, from production, distribution, marketing, and sales, risks are assessed on regular basis to determine and prevent potential losses. Because quantitative risk assessments present a more concrete depiction of potential business risks, business owners and investors prefer them over qualitative evaluations.  Assessors calculate two components of risk (R): potential loss (L) and probability of its occurrence (p). To learn more about quantitative risk assessment, visit this article on the Eagle Mat Blog. http://www.eaglemat.com/blog/quantitative-risk-assessment-for-business-owners/

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