Definition:
Revealed risk tolerance reflects the risk an organization or system truly accepts in practice, regardless of stated aims or formal criteria. It is the actual level of risk that becomes apparent through observation, measurement, or historical evidence. Rather than through policy or intended targets.
revealed risk – what risk is actually present or happening
revealed risk tolerance – what level of risk is actually tolerated or accepted in real life
Key Points:
- Determined by operational practice, leading or lagging metrics, and real-world outcomes—not policy statements.
- Evidenced by data such as the frequency and duration of safety system bypasses, maintenance deferrals, incident frequency, or rule exceptions.
- May diverge from stated risk tolerance if behavior and decision-making accept higher or lower risks than officially permitted.
Example:
An organization’s official policy prohibits safety instrumented system (SIS) overrides except during maintenance, but audit data shows regular overrides to keep production running. The true (revealed) risk tolerance is thus higher than what company documents claim.
See Also: stated risk tolerance, revealed risk
Cited Source:
- Center for Chemical Process Safety (CCPS) Process Safety Glossary