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Definition of

Risk Priority Number

Risk

number used to quantify risk a measure used in Failure Mode and Effects Analysis to quantify risk. It is a product of the severity, probability of occurrence, and ability to detect failure.

Related definitions of "Risk Priority Number"

Definitions of ’Risk Priority Number’ and meaning of ’Risk Priority Number’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Risk Priority Number’ and other financial terms with our online QFINANCE Financial Dictionary.

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