assessment is the determination of quantitative or qualitative values
representing the risk related to a particular course of action, and
quantitative risk assessment is based on the calculation and
combination the magnitude of the potential loss resulting from a risk,
and the likelihood that that loss will occur, taking into account all
assumptions and uncertainties. As such it varies from a purely ‘hazard’
based approach, which takes no account of the likelihood that a problem
will occur, but rather only examines the seriousness of a problem
should it occur. In agri-environmental terms, AERU have used a risk
based approach in much of our work, so as to ensure that our assessment
of impacts (or potential impacts) takes into account site specific
factors, such as whether sensitive environments are present in the
location that a potentially damaging process is occurring.
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