Risk situation

A situation which is described, within a given context, in terms of considered hazardous scenarios and potential resulting risks in terms of estimated frequency and severity of impacts. Related terms: ▶   Reference risk situation: A risk situation taken as a reference input to a decision-making process to be compared with target risk situations. ▶   Target risk situation: A risk situation resulting from the implementation of an option. ▶   Future risk situation: Feasible and optimal target situation resulting from the implementation of a decision-making process which is achievable through a defined set of risk control measures.