RISK ANALYSISRisk analysis can be defined in different perspective base on how risk analysis relates to other concepts. It may be "broadly defined to include risk assessment , risk characterization, risk communication, risk management , and policy relating to risk, in the context of risks of concern to individuals, to public- and private- sector organizations, and to society at a local, regional, national, or global level." Is better to divide risk analysis into two components: (a) risk assessment (identifying, evaluating, and measuring the probability and severity of risks) and (b) risk management. some authors define risk management as the overarching concept, where risk analysis is the component that seeks to identify and measure the risks and risk mitigation is determining what to do about the risks. Risk analysis can be qualitative or quantitative.
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