Formalization of concepts of acceptable and tolerant risk

Abstract

Formalization of concepts of acceptable and tolerant risk

Azhmuhamedov I.M., Vybornova O.N.

Incoming article date: 23.09.2015

Risk management process represents the complex problem possessing a number of specific features. Ambiguity of the concept "risk" and variety of manifestations of risk and opportunities of overcoming of its adverse effects are aggravated with that the most part of the parameters participating in process of development of managing decisions have no accurate (numerical) characteristics. Estimates of the majority of concepts are formulated by experts in a verbal form. For overcoming of the specified difficulties in work the method of a numerical assessment of levels of the acceptable is offered and tolerant is risk. The entered metrics allow to start formalization of process of search and acceptance of optimum management decisions for reduction of value of the current risk to the target objective. The offered mathematical model can be the basis for the corresponding software for the purpose of creation of system of decision support in the sphere of a risk management.

Keywords: risk management, acceptable risk, tolerant risk, current risk level, degree of danger of a situation