What Does PRA Stand For?
PRA stands for Probabilistic Risk Assessment
Probabilistic Risk Assessment (PRA) is a systematic methodology used to evaluate the likelihood and consequences of adverse events in various domains, including engineering, finance, and public health. By incorporating statistical techniques and modeling, PRA quantifies the potential risks associated with different scenarios, enabling informed decision-making and effective risk management strategies. This approach helps organizations identify, prioritize, and mitigate risks to enhance safety and operational resilience.
Added on 14th April 2008 | Last edited on 16th June 2025 | Edit Acronym