aggregation equation must be consistent with the independencies and dependencies that exist in
Benefit. An increase in the achievement of a decision objective as a result of implementing a
decision option. For comparison of benefits across decision objectives, benefits for individual
decision objectives will have to be normalized. For any given decision objective, benefits may
increase (desirable), decrease (undesirable), or remain the same following implementation of a
Characteristic. A distinguishing trait, quality, or property desired for selection, development, or
comparison of RBP systems.
Cost. The outlay or expenditure made to achieve a decision option. Cost of implementation
should not be confused with monetized equivalents of benefits.
Decision Objective. An explicit statement of a desired goal of implementing decision options.
Decision objectives provide a basis for defining performance measures for RBP systems and
then defining decision options. To be technically complete, the specification of a decision
objective requires specifying the object of value, its context, and direction of preference.
Decision Option. Alternative activities or sets of activities that are evaluated and prioritized by
Interested Parties. People, groups, or organizations that decide to become informed about, and
involved in, an RBP process. Interested parties may or may not also be affected parties.
Performance Measure. A quantitative measure for characterizing the effects on risk or benefits of
performing an activity. Performance measures are often specified in terms of scales that indicate
the relationship between decision option characteristics and the corresponding quantitative
measure. For example, maximum individual risk, defined as the probability of a fatality to a
maximally exposed individual, is a performance measure of human health risk.
Performance Result. A numerical value (score), as determined by the application of an RBP
system, of the outcome of performing an activity.
Risk. A concept used to give meaning to things, forces, or circumstances that pose harm or
benefit to people, groups, or organizations, or to what they value. Descriptions of risk are
typically stated in terms of the likelihood of harm or benefit from an activity and usually include an
identification of what is " t risk"and may be harmed or benefitted (e.g., health of human beings or
an ecosystem, personal property, quality of life, ability to engage in an economic activity); the
activity that may occasion this harm or benefit; and a judgment about the likelihood that harm or
benefit will occur. (Reference [f]).
Risk-Based Prioritization. A process that uses quantification of risks, costs, and benefits to
evaluate and compare decision options competing for limited resources. The function of RBP is
to aid allocation and planning decisions.
Risk-Based Prioritization System. The collection of procedures, models, and other components
used to conduct RBP.
Scaling Function. A functional relationship that translates a level of performance, as expressed
by a performance measure, into a number that indicates the value or desirability of performance.
A scaling function is provided for each performance measure. Mathematically, a scaling function
has the form v=S(m), where " "is the performance measure, " "is the scaling function, and " "