Hazard Probability – defines in quantitative or qualitative terms, the estimated probability of the specific Contributory Hazards which are defined within the Hazardous Event under study; possible elements within a fault tree.
Note that hazard probability is not defined as the aggregate probability of occurrence of the individual hazardous events that create a specific hazard; see Hazardous Event and Accident. Also note that Hazard Probability is not the same as likelihood; see likelihood.
Hazard Probability
The aggregate probability of occurrence of the individual events(conditions).
Hazard Severity. An assessment of the consequences of the worst credible accident that could be caused by a specific hazard.
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