A dynamic risk assessment is a process of assessing risk in an on the spot situation. This
Question:
"A dynamic risk assessment is a process of assessing risk in an on the spot situation. This type of risk assessment is often used to cope with unknown risks and handle uncertainty. People who need to deal with developing and changing situations will often use dynamic risk assessments."
The difference between risk and uncertainty is the difference between dice (or "di") having conditions on their faces or not. Like a dice that has either the number 1 or another number (1-6) on the other sides. When you throw dice you know there is a probability of achieving a score: like the number two (1 dice has a 1 and the other has a 1) called snake eyes. But with uncertainty the faces are all blank and you do not know the outcome. So given uncertainty how do you proceed with a dynamic "risk" assessment?
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Auditing Cases An Interactive Learning Approach
ISBN: 978-0132423502
4th Edition
Authors: Steven M Glover, Douglas F Prawitt