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Risk Reduction (other)
Risk reduction may refer to: * Absolute risk reduction or Relative risk reduction, statistical descriptors of an intervention. * Risk management * Disaster Risk Reduction * Safety Integrity Level * Hedge (finance) * Diversification (finance) {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Absolute Risk Reduction
The risk difference (RD), excess risk, or attributable risk is the difference between the risk of an outcome in the exposed group and the unexposed group. It is computed as I_e - I_u, where I_eis the incidence in the exposed group, and I_u is the incidence in the unexposed group. If the risk of an outcome is increased by the exposure, the term absolute risk increase (ARI) is used, and computed as I_e - I_u. Equivalently, if the risk of an outcome is decreased by the exposure, the term absolute risk reduction (ARR) is used, and computed as I_u - I_e. The inverse of the absolute risk reduction is the number needed to treat, and the inverse of the absolute risk increase is the number needed to harm. Usage in reporting It is recommended to use absolute measurements, such as risk difference, alongside the relative measurements, when presenting the results of randomized controlled trials. Their utility can be illustrated by the following example of a hypothetical drug which reduces the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relative Risk Reduction
In epidemiology, the relative risk reduction (RRR) or efficacy is the relative decrease in the risk of an adverse event in the exposed group compared to an unexposed group. It is computed as (I_u - I_e) / I_u, where I_e is the incidence in the exposed group, and I_u is the incidence in the unexposed group. If the risk of an adverse event is increased by the exposure rather than decreased, the term relative risk increase (RRI) is used, and it is computed as (I_e - I_u)/I_u. If the direction of risk change is not assumed, the term relative effect is used, and it is computed in the same way as relative risk increase. Numerical examples Risk reduction Risk increase See also * Population Impact Measures * Vaccine efficacy Vaccine efficacy or vaccine effectiveness is the percentage reduction of disease cases in a vaccinated group of people compared to an unvaccinated group. For example, a vaccine efficacy or effectiveness of 80% indicates an 80% decrease in the ... Ref ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disaster Risk Reduction
Disaster risk reduction (DRR) sometimes called disaster risk management (DRM) is a systematic approach to identifying, assessing and reducing the risks of disaster. It aims to reduce socio-economic vulnerabilities to disaster as well as dealing with the environmental and other hazards that trigger them. The most commonly cited definition of Disaster risk reduction is one used by UN agencies such as United Nations Office for Disaster Risk Reduction (UNDDR) and the United Nations Development Programme (UNDP): "The conceptual framework of elements considered with the possibilities to minimize vulnerabilities and disaster risks throughout a society, to avoid (prevention) or to limit (mitigation and preparedness) the adverse impacts of hazards, within the broad context of sustainable development." Disaster risk reduction has been strongly influenced by the research on vulnerability since the mid-1970s as well as the mapping of natural disaster risks. Disaster risk reduction is the r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Safety Integrity Level
Safety integrity level (SIL) is defined as the relative level of risk-reduction provided by a safety function, or to specify a target level of risk reduction. In simple terms, SIL is a measurement of performance required for a safety instrumented function (SIF). The requirements for a given SIL are not consistent among all of the functional safety standards. In the functional safety standards based on the IEC 61508 standard, four SILs are defined, with SIL 4 the most dependable and SIL 1 the least. The applicable SIL is determined based on a number of quantitative factors in combination with qualitative factors such as development process and safety life cycle management. Assignment Assignment of SIL is an exercise in risk analysis where the risk associated with a specific hazard, that is intended to be protected against by a SIF, is calculated without the beneficial risk reduction effect of the SIF. That unmitigated risk is then compared against a tolerable risk target. The di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge (finance)
A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts, swaps, options, gambles, many types of over-the-counter and derivative products, and futures contracts. Public futures markets were established in the 19th century to allow transparent, standardized, and efficient hedging of agricultural commodity prices; they have since expanded to include futures contracts for hedging the values of energy, precious metals, foreign currency, and interest rate fluctuations. Etymology Hedging is the practice of taking a position in one market to offset and balance against the risk adopted by assuming a position in a contrary or opposing market or investment. The word hedge is from Old English ''hecg'', originally any fence, living or artificial. The first known use of the word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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