Tolerance is 1) a capacity to accept the existence of opinions or behaviours that one dislikes or disagrees with; 2) willingness to accept the uncertainty arising from the physical and environmental differences; 3) In Economics, the level of risk or uncertainty that an investor or market participant is willing to accept. In Quality Control, a Tolerance limit is a measure used to ensure the uniformity or quality of manufactured products that is defined as a specific proportion of the population at a given confidence level.
Related Definitions in the Project: The Project Management; Quality Management; Risk Management
