Page 6 - FAA-H-8083-9B Aviation Instructor's Handbook
P. 6

Defining Risk Management


        Risk     is defined  as the probability and  possible severity     f accident or loss from exposure to various hazards, including injury


        people and   loss of resources. [Figure 1-1]   All Federal Aviation Administration (FAA) operations in the United States involve risk

        and   benefit from decisions that include risk assessment and risk management. Risk management, a formalized way of thinking about

        these topics, is   the logical process of weighing the potential costs of risks against the possible benefits of allowing those risks to stand


                                                    Figure 1-1. Types of risk.

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