Tailored value

Value allocated by the user to a given parameter of the risk estimation model with the objective of describing the risk situation under consideration in the best way. Only ‘open parameters’ can be tailored. Under this definition tailoring a value can be: ▶   setting a value to an open parameter for which no ‘default’ value is proposed by the model, or, ▶   correcting the ‘default’ value proposed by the model for an open parameter.