Composite Risk Formula combines exposure magnitude with probability of occurrence to quantify overall risk. It provides a single metric that reflects both how often a hazard occurs and how severe its consequences are. This approach enables better prioritization of safety measures and resource allocation. It is widely used in risk assessments across industries such as chemical processing, construction, and environmental health. By quantifying risk in numerical terms, decision-makers can implement targeted controls and improve overall safety performance.
Composite risk scores enable safety professionals to prioritize hazards that combine high exposure with high probability, directing resources to areas needing most urgent attention in fire prevention and workplace safety.
This calculation is fundamental to fire safety assessments and occupational hazard evaluations, where both exposure frequency and consequence severity must be considered together.
Used in NFPA risk assessment methodologies and OSHA hazard evaluation frameworks. Aligns with ISO 45001 occupational health and safety standards.
The composite risk score provides a practical, quantitative method to evaluate safety hazards, particularly valuable in fire prevention and industrial safety where both exposure and probability factors must be weighed.