<Table> <Tr> <Td> </Td> <Td> This article includes a list of references, but its sources remain unclear because it has insufficient inline citations . Please help to improve this article by introducing more precise citations . (August 2010) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article includes a list of references, but its sources remain unclear because it has insufficient inline citations . Please help to improve this article by introducing more precise citations . (August 2010) (Learn how and when to remove this template message) </Td> </Tr> <P> Risk assessment is the determination of quantitative or qualitative estimate of risk related to a well - defined situation and a recognized threat (also called hazard). Quantitative risk assessment requires calculations of two components of risk (R): the magnitude of the potential loss (L), and the probability (p) that the loss will occur . An acceptable risk is a risk that is understood and tolerated usually because the cost or difficulty of implementing an effective countermeasure for the associated vulnerability exceeds the expectation of loss . "Health risk assessment" includes variations, such as the type and severity of response, with or without a probabilistic context . </P> <P> In the engineering of complex systems, sophisticated risk assessments are often made within safety engineering and reliability engineering when it concerns threats to life, environment or machine functioning . The agriculture, nuclear, aerospace, oil, rail and military industries have a long history of dealing with risk assessment . Also, medical, hospital, social service and food industries control risks and perform risk assessments on a continual basis . Methods for assessment of risk may differ between industries and whether it pertains to general financial decisions or environmental, ecological, or public health risk assessment . </P>

What are the different types of risk assessment