Glossary

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Term	Meaning
Qualitative risk analysis	Estimation of level of risk in a descriptive manner, where probabilities and consequences of undesired events are based on subjective experience and/or expert opinion, with both probabilities and consequences being categorized instead of quantified.
Quantitative risk analysis	Estimation of level of risk based on calculated values of probabilities of hazards, effects and consequences of undesirable events, which are quantified using data and mathematical analyses.