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Mishap risk

An expression of the possibility and impact of an unplanned event or series of events resulting in death, injury, occupational illness, damage to or loss of equipment or property (physical or cyber), or damage to the environment in terms of potential severity of consequences and likelihood of occurrence. See also risk.

Similar items:
(1) Technical any unplanned or unintended event, sequence, or combination of events that results in death, injury, or illness to personnel or damage to or loss of equipment or property (including data, intellectual property, etc. ), or damage to the environment. (2) Legal
Design features and operational procedures that ensure that a product performs predictably under normal and abnormal conditions, and the likelihood of an unplanned event occurring is minimized and its consequences controlled and contained, thereby preventing accidental injury or death, environmental or property damage, whether intentional or accidental.
The severity of the worstcase consequences should a potential hazard occur. Most international standards define four levels of hazard severity (lowest to highest): insignificant, marginal, critical, and catastrophic.
An analysis that examines an organization’s information resources, its existing controls, and its remaining organization and computer system vulnerabilities. It combines the loss potential for each resource or combination of resources with an estimated rate of occurrence to establish a potential level of damage in dollars or other assets. An element of risk management that includes analyzing an environment for risks, evaluating each risk as to its likelihood of occurring and cost of damage, assessing the cost of various countermeasures for each risk, and creating a cost/benefit report for safeguards to present to upper management. Examination of information to identify the risk to an information system.
A term used to refer to devices that offer a computational means to control something in the physical world. In the past these might have been referred to as embedded systems, but the category of cyber-physical seems to focus more on the physical world results rather than the computational aspects. See Internet of Things (IoT).

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