What does the consequence of failure variable aim to determine?

The consequence of failure variable focuses on understanding the ramifications of a failure event. Specifically, it aims to determine the impact or severity of a failure should it occur. This can encompass various aspects, such as safety concerns, economic costs, and operational disruptions. By assessing the consequence of failure, organizations can prioritize risk management efforts and minimize adverse outcomes.

The correct answer emphasizes the inquiry into who would be affected by the failure and how significant that impact would be. This is crucial in making informed decisions about risk management strategies based on the potential repercussions of failures on involved parties, such as users, stakeholders, or the broader system.

Understanding the impact of failure can guide efforts to enhance system reliability and safety, whereas other options focus on aspects of likelihood or cost but do not encapsulate the essence of the consequence of failure variable.