The term ‘Risk’ is common, but in functional safety, it takes on a unique meaning. What elements constitute a “Risk” in this field?
From hazard probabilities to its consequences, we break it down with a compelling example.
Visual Chronicles
Discover how risk in functional safety isn’t just about what could go wrong – it’s a combination of how likely something is to happen and what the consequences of the hazard event would be.
Through visual scenarios and illustration, we explore how probability and consequences interact and why effective risk mitigation requires a strategic approach to both elements.
Key Takeaways:
- Understanding risk involves assessing both the frequency or probability and the consequences of potential hazard.
- A possible way to represent the different risk levels is by using a risk matrix.
