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TeachMeFinance.com - explain Risk assessment Risk assessment The term 'Risk assessment ' as it applies to the area of agriculture can be defined as ' The qualitative and quantitative evaluation of risks posed to health or the environment that arise from an activity, chemical use, or technology. The process includes describing potential adverse effects, evaluating the magnitude of each risk (e.g., the toxicity of a chemical), estimating potential exposure to the chemical or other hazard, estimating the range of likely effects given the likely exposures, and describing uncertainties'. The term 'Risk assessment ' as it applies to the area of nanotechnology can be defined as ' A set of analytic approaches in the decision, risk, and management sciences, typically considering both the probability and the potential cost of a particular type of event'. Previous 5 Terms: risible Risk Risk Adjustment risk analysis Risk assessment Next 5 Terms: Risk communication Risk management Risk Management Agency Risk reduction Risk-based decisionmaking About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.