Building upon the technical and organizational groundwork presented in the first edition, Risk Assessment and Decision Making in Business and Industry: A Practical Guide, Second Edition addresses the many aspects of risk/uncertainty (R/U) process implementation. This comprehensive volume covers four broad aspects of R/U: general concepts, i

This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

Principles of Risk-Based Decision Making provides managers with the foundation for creating a proactive organizational culture that systematically incorporates risk into key decision-making processes. Based on methodology adopted by a number of organizations including the federal government, this book examines risk-based decision making as a process for organizing information about the possibility for unwanted outcomes in a simple, practical way that helps decision makers make timely, informed management choices that minimize harmful effects on safety and health, the environment, property loss, or mission success. Citing practical examples, charts, and checklists, the authors break the risk-based decision making process into five key components: establishing the decision structure, performing the risk assessment, managing sufficient risks, monitoring effectiveness of adopted risk controls through impact assessment, and facilitating risk communication. They examine each component in detail and outline available decision analysis and risk assessment tools that aid in each of these risk-based decision making functions. This book also walks readers through eight project management steps—from scoping a risk assessment to evaluating the recommendations—the components of each, and the importance of these steps to the success of a risk assessment. Special features include a table for applying the risk-based decision-making process, a hazard identification guidesheet, an example of human error, an acronym list, and a glossary.

In every decision context there are things we know and things we do not know. Risk analysis uses science and the best available evidence to assess what we know-and it is intentional in the way it addresses the importance of the things we don't know. Principles of Risk Analysis: Decision Making Under Uncertainty lays out the tasks of risk analysis i

Risk assessment has become a dominant public policy tool for making choices, based on limited resources, to protect public health and the environment. It has been instrumental to the mission of the U.S. Environmental Protection Agency (EPA) as well as other federal agencies in evaluating public health concerns, informing regulatory and technological decisions, prioritizing research needs and funding, and in developing approaches for cost-benefit analysis. However, risk assessment is at a crossroads. Despite advances in the field, risk assessment faces a number of significant challenges including lengthy delays in making complex decisions; lack of data leading to significant uncertainty in risk assessments; and many chemicals in the marketplace that have not been evaluated and emerging agents requiring assessment. Science and Decisions makes practical scientific and technical recommendations to address these challenges. This book is a complement to the widely used 1983 National Academies book, Risk Assessment in the Federal Government (also known as the Red Book). The earlier book established a framework for the concepts and conduct of risk assessment that has been adopted by numerous expert committees, regulatory agencies, and public health institutions. The new book embeds these concepts within a broader framework for risk-based decision-making. Together, these are essential references for those working in the regulatory and public health fields.

Identifies the quantitative measures to assess behavior induced risks Presents a framework to limit the interpersonal tension of addressing behavioral risks Offers an empirical case study in the oil and gas domain demonstrating use of the framework Addresses the missing dimension of behavior-centric intangible risk factors in current risk identification and management processes Provides a systematic analytical approach to mitigate subjectivity when addressing behavioral risks in projects