I’ve been thinking a lot about risk scoring tools and our algorithms. One of the key elements in risk is the Severity of Injury. There are hidden probabilities attached to the Severity of Injury scores that are assigned that are not discussed clearly in any of the risk assessment standards that are commonly in use.
Read MoreThe Problem with Probability
Risk Factors When risk is analyzed, at least in the industrial sector, we usually follow a process defined in ISO 12100. This approach defines two broad parameters, severity and probability, and then further subdivides probability into sub-parameters that are helpful for analyzing machinery hazards. This post explores the difficulty with assessing the probability parameter. If…
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