Professor Forman

1.2 Terminology

The DHS risk lexicon[1] has more than 100 terms, such as risk, event tree, intent, hazard, economic consequence, risk score, vulnerability, and so on.  We will show, and find it useful, that while all these terms have some bearing to risk management, there are only seven risk elements (each with possible pseudonyms) that are necessary and sufficient for actually measuring and managing risk in an optimal way. 

[1] and

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