TeachMeFinance.com - explain Failure potential assessment
Failure potential assessment The term 'Failure potential assessment' as it applies to the area of reclamation can be defined as ' A judgment of the potential for failure of an essential element within the expected life of the project. Five terms are used to describe the assessment: negligible, low, moderate, high, and urgent. A rating of negligible reflects the judgment that failure of the essential element is regarded as very unlikely; low reflects the judgment that failure is unlikely; moderate reflects the judgment that failure is possible and further data collection and/or analyses may be required; high reflects the judgment that failure is very probable; urgent reflects the judgment that failure is imminent'.
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