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Risk-based decision making is a
|“||determination of a course of action predicated primarily on the assessment of risk and the expected impact of that course of action on that risk.||”|
Risk-based decision making uses the assessment of risk as the primary decision driver, while risk-informed decision making may account for multiple sources of information not included in the assessment of risk as significant inputs to the decision process in addition to risk information. Risk-based decision making has often been used interchangeably, but incorrectly, with risk-informed decision making.