B. Assumption of Risk and Impact of Hazards Involuntary risks are those we unknowingly or unwillingly assume. Voluntary Risks are those we knowingly and willingly assume. Identification of hazard or cause Estimation of event occurrence Evaluation of human and economic consequences of event occurrence. Change in magnitude of phenomena Change in human tolerance for variation D. Perceptions and Misperceptions of Risk Weij-ji, a Chinese character implying both opportunity and benefit. General population often does not perceive risk in the same way as technical experts.
Perception includes value judgments.
People view potential consequences of hazard hold greater significance than probability of occurrence.