Risk Mapping Involves Assessment of the Probability or Relative Frequency

question 3

True/False

Risk mapping involves assessment of the probability or relative frequency of an event against the aggregate severity of the loss.

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Definitions:

Practical

Concerned with the actual doing or use of something rather than with theory and ideas.

Traditional

Pertaining to customs, beliefs, or practices that have been passed down through generations or have been established by long usage.

Constructs

Conceptual elements or tools used to measure or represent phenomena in the scientific and psychological fields.

People

Human beings collectively, often referred to in the context of society, organizations, or groups.