Quantitative Risk Assessment

Quantitative Risk Assessment (QRA) is a systematic method used to evaluate potential risks in various situations, such as in health, finance, or safety. It involves using mathematical models and statistical data to estimate the likelihood of adverse events and the potential impacts if they occur. By analyzing these risks quantitatively, organizations can make informed decisions about how to manage or mitigate them. QRA aims to provide a clearer understanding of risks, allowing better planning and resource allocation to protect people, assets, and the environment from harm.