TeachMeFinance.com - explain Performance-based regulation
Performance-based regulation The term 'Performance-based regulation' as it applies to the area of nuclear science can be defined as ' A regulatory approach that focuses on desired, measurable outcomes, rather than prescriptive processes, techniques, or procedures. Performance-based regulation leads to defined results without specific direction regarding how those results are to be obtained. At the NRC, performance-based regulatory actions focus on identifying performance measures that ensure an adequate safety margin and offer incentives for licensees to improve safety without formal regulatory intervention by the agency. For additional detail, see Risk Assessment in Regulation. '.
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