The principles for determining the cost of radiation risk as a method of op
timizing risk are described. The interrelationship of various components of
risk is examined. The goal of optimization as a requirement to decrease th
e aggregate risk is formulated. It is noted that mathematical simulation is
unreliable for determining the cost of risk and damage. Ail approach to de
termining the cost of risk on the basis of direct analysis of the financial
rests is proposed. The result of risk cost assessment is presented. The us
e of the proposed approach is demonstrated for a hypothetical example. 18 r
eferences.