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Home > QFINANCE Dictionary > Definition of Risk Priority Number

Definition of

Risk Priority Number

Risk

number used to quantify risk a measure used in Failure Mode and Effects Analysis to quantify risk. It is a product of the severity, probability of occurrence, and ability to detect failure.

Related definitions of "Risk Priority Number"

Risk Priority Number - Related Articles

  • Coping with the Crisis: Risks, Options, and Priorities for Developing Countries

    Viewpoints

    Developing economies are feeling the fall-out in a number of ways, with countries with high balance of payments and fiscal deficits being the most vulnerable. Many nations are facing a rapid decline in exports, as the runaway trade expansion of 2002–2007 has sharply slowed. Commodity exporters were
    By Justin Yifu Lin

  • Countering Supply Chain Risk

    Best Practice

    they are susceptible to several types of risk. These risks include operational risk due to demand variability, supply fluctuations and disruption risk due to natural disasters, terrorist attacks, pandemics, and breaches in data security. Such risks disrupt or slow the flow of material, information, and cash, and put billions of dollars at stake due to stock market capitalization, failed product launches, and the possibility of bankruptcies
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  • Minimizing Credit Risk

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    and unexpectedly because of an unforeseen event. This can include any number of idiosyncratic events that are specific to the corporation or to an industry, including a natural or industrial accident, a regulatory change, a takeover or corporate restructuring, or corporate fraud. This risk is referred
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  • Managing and Auditing the Risk of Business Interruption

    Checklists

    This checklist covers the stages in preparing to manage and audit the risk of a business interruption.

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Definitions of ’Risk Priority Number’ and meaning of ’Risk Priority Number’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Risk Priority Number’ and other financial terms with our online QFINANCE Financial Dictionary.

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