The spectrum of risks across classes of events are also of concern, and are usually controlled in licensing processes – it would be of concern if rare but high consequence events were found to dominate the overall risk, particularly as these risk assessments are very sensitive to assumptions (how rare is a high consequence event?). The total risk is the expected loss: the sum of the products of the consequences multiplied by their probabilities. the likelihood (probability) of occurrence of each consequence.Ĭonsequences are expressed numerically (e.g., the number of people potentially hurt or killed) and their likelihoods of occurrence are expressed as probabilities or frequencies (i.e., the number of occurrences or the probability of occurrence per unit time).the magnitude (severity) of the possible adverse consequence(s), and.In a PRA, risk is characterized by two quantities: Risk in a PRA is defined as a feasible detrimental outcome of an activity or action. Also called Minimal Important Difference (MID).Probabilistic risk assessment ( PRA) is a systematic and comprehensive methodology to evaluate risks associated with a complex engineered technological entity (such as an airliner or a nuclear power plant) or the effects of stressors on the environment (probabilistic environmental risk assessment, or PERA). Also known as clinical significance, this is the smallest change in effect that is meaningful to the patient and/or healthcare professional.Minimal Clinically Important Difference (MCID) For example, considering the mean difference in height between two groups of people, if the CIs around the point estimate include 0, the conclusion would be that there was no significant difference in height between groups. NOTE: When considering absolute numbers, if the CI includes 0 then there is no significant difference. Therefore, if the CI includes 1 then it is uncertain whether the true value would be above or below 1, i.e., whether events are more likely in the treatment or control group, so overall there is no statistical significant difference.If the RR/OR/HR ![]()
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