Agencies can assess risk by determining likelihood of occurrence, number of persons affected, and the seriousness of the consequences of not responding to the risk.
What does LOO stand for?
LOO stands for Likelihood of Occurrence
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Science, medicine, engineering, etc.
See other definitions of LOO
We have 11 other meanings of LOO in our Acronym Attic
- Letter of No Prejudice
- Leaders of the New School
- Local On-Line Network System
- Logistics Office Network System
- League of Nations Treaty Series
- Last One Out
- Leave One Out (classification analysis)
- Lesbian Owned and Operated (corporate management)
- Letter Of Offer
- License of Occupation (forestry document)
- Line of Operation
- Log of Operations
- Letter of Operational Authority (aviation)
- Leave-One-Out Covariance
- Liverpool Ocular Oncology Centre (Royal Liverpool University Hospital; Liverpool, England, UK)
- Leave-One-Out Classification Error
- Lexical Obscenity On-line Filter (LOOFbot)
- Lowest Output Occupancy First Algorithm
- Lake Ontario Operational Forecast System (project; National Oceanic & Atmospheric Administration)
Samples in periodicals archive:
The traditional approach is to evaluate the probability or likelihood of occurrence for each risk (described as criticality in reliability engineering), and then evaluate the potential impact of all possible risks.
As such, management might assess the likelihood of occurrence as medium--or if the organization has had a history of up-coding, management then might assess the risk as high.
Once the senior client is convinced of the blunt reality that mortality has a 100% likelihood of occurrence, a call to action should be created by inquiring what plans that they actually have in place to do something about it.
Dealing with Uncertainty The compelling reason to purchase broad-form or difference-in-condition D&O coverage is that it is difficult to assess the likelihood of occurrence of the type of problems described above.
Many studies have shown that increased exposure to combat gives rise to a greater likelihood of occurrence of PTSD.
If the amount of the liability can be estimated within a range, the amount reported should reflect the relative likelihood of occurrence of different amounts within the range.