Probabilistic risk assessment

Probabilistic risk assessment is a way of measuring the chance that something bad might happen. It helps us figure out how risky something is and the possible consequences that might happen if it does. To do this, we look at things like historical data, expert opinions, and computer models to figure out how likely it is that something bad might happen. Once we know this, we can figure out what steps to take to prevent the bad thing from happening, or to make sure that if it does, it won't be as bad as it could have been.