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Algorithm 1. Risk Analysis |
Ri = Identified Risks
rf = Risk Factor
Rnetval = Monitored Risk Net Value
For Each Identified Risk Ri to be Monitored rf
Monitor the occurrence of related Risk Factor r1, r2 … rf
For Each rf
P (rf) = Number of Occurrence/Monitored Time
If (Rnetval Ri) Then
Revised the existing Control Strategy with Immediate Action
If (Rnetval < Ri) Then no Immediate Action is required
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