GLOSSARY OF TERMS
Consequence, Maximum Credible
The most believable, worst case that could occur as a direct result of the hazard.
Potential equipment failure, process breakdown, human error, injury/death to persons, damage to equipment, non-compliance with regulations, or non-conformance with procedures.
Condition, event, or circumstance that could lead to or contribute to an unplanned or undesired event.
Additional action is needed to reduce or eliminate the level of risk.
The risk level is within normally expected limits and no surveillance is required beyond that normally conducted under the NPG.
Expression of the impact of an undesired event in terms of event likelihood and event severity.
Identification or evaluation of the two components of risk, i.e., undesired event likelihood and severity of occurrence.
The process by which the results of risk analysis is used to make decisions.
Factors are responsible for higher levels of risk, either in terms of likelihood or severity. These factors then become specific targets for risk control, either by eliminating them or reducing their effects.
Risk Likelihood Values
Frequent - Continuously experienced.
Probable - Will occur often.
Occasional - Will occur several times.
Remote -Unlikely, but can reasonably be expected to occur.
Risk Severity Values
High - Loss (or breakdown) of an entire system or sub-system; accident, or serious incident.
Medium - Partial breakdown of a repair stations system violation of regulations or company rules.
Low - Poor repair station performance or disruption to the repair station.
To allocate authority, responsibility, and accountability for taking action to another AFS or FAA organization.