Generally, while considering the causes of occurrence and consequences of an unfavourable event in an offshore marine hydraulic structure, the procedure of assessment of the risk from the point of view of its acceptability (allowance, tolerance).
Now in the field of the analysis, assessment of the risk and risk management there are still no established, generally recognized standard definitions. There are several definitions of the term "risk" itself.
First of all, the experts understand the risk as a probability, which reflects the degree of exposure or opportunity of realisation of a negative event (Simonovic, 1996). The popular treatment of risk, especially in economic appendices, is the product of probability of a negative event for a certain period of time by the consequence of this event. There are also other treatments.
The specified three components of the risk are subject to separate assessment and interpretation. Each of the components could be established as the product of probability of negative event realisation by its consequence.
Thus, the risk depends on probability of a negative event as well as on its consequences and can represent an essential quantity even if the probability of the negative event is very small (Rettemeier et al., 2000). The major factor in risk analysis is the time. The risk and the time are two sides of one medal. Firstly, the uncertainty peculiar to any process of decision-making is caused not so much by the fact that this process is directed to the future rather than by the fact that the past exists and will always exist as a source of information about the future. We are the prisoners of the future because we remain in a trap of the past.
