The Tolerability of Risk

The Tolerability of Risk

Author: Frederic Bouder

Publisher: Routledge

Published: 2013-09-05

Total Pages: 159

ISBN-13: 1136551824

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There is an increasing dissatisfaction about how risk is regulated, leading to vivid debates about the use of 'risk assessment' and 'precaution'. As a result, academics, government officials and industry leaders are calling for new approaches and fresh ideas. This book provides a historical and topical perspective on the alternative concept of 'Tolerability of Risk' and its concrete regulatory applications. In the UK, Tolerability of Risk has been developed into a sophisticated framework, particularly within the health and safety sectors. It is expected to guide decision-makers when applying their legal obligation of keeping risks as low as practically reasonable. Could Tolerability of Risk become a wider source of inspiration across the full scope of risk analysis and management? Written by leading academics and risk practitioners from industry and government, The Tolerability of Risk presents a summary of theoretical perspectives on risk approaches, providing a detailed elicitation of the methods and approaches used to build the Tolerability of Risk framework and examining the prospect of universal application of that framework. From nuclear power to environmental pollution, climate change and drug testing, the Tolerability of Risk framework may offer a workable, pragmatic solution for balancing risks against the costs involved in controlling them, as well as developing the institutional capacity to make effective decisions in all jurisdictions worldwide.


The Tolerability of Risk

The Tolerability of Risk

Author: Frederic Bouder

Publisher: Routledge

Published: 2013-09-05

Total Pages: 168

ISBN-13: 1136551816

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There is an increasing dissatisfaction about how risk is regulated, leading to vivid debates about the use of 'risk assessment' and 'precaution'. As a result, academics, government officials and industry leaders are calling for new approaches and fresh ideas. This book provides a historical and topical perspective on the alternative concept of 'Tolerability of Risk' and its concrete regulatory applications. In the UK, Tolerability of Risk has been developed into a sophisticated framework, particularly within the health and safety sectors. It is expected to guide decision-makers when applying their legal obligation of keeping risks as low as practically reasonable. Could Tolerability of Risk become a wider source of inspiration across the full scope of risk analysis and management? Written by leading academics and risk practitioners from industry and government, The Tolerability of Risk presents a summary of theoretical perspectives on risk approaches, providing a detailed elicitation of the methods and approaches used to build the Tolerability of Risk framework and examining the prospect of universal application of that framework. From nuclear power to environmental pollution, climate change and drug testing, the Tolerability of Risk framework may offer a workable, pragmatic solution for balancing risks against the costs involved in controlling them, as well as developing the institutional capacity to make effective decisions in all jurisdictions worldwide.


Sustainable Business Performance and Risk Management

Sustainable Business Performance and Risk Management

Author: Ruxandra Maria Bejinariu

Publisher: Springer Nature

Published: 2020-02-21

Total Pages: 320

ISBN-13: 3658293896

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In this book Ruxandra Maria Bejinariu introduces an innovative approach related to improving the risk assessment process by using unexploited methods that have been mainly used in limited areas of business and identifying both threats and opportunities that can be generated as a result of risk materialization. The study can offer possibilities of improving the risk assessment process with a direct impact on increasing the organizations’ risk appetite and sustainable performance.​


Acceptable Evidence

Acceptable Evidence

Author: Deborah G. Mayo

Publisher: Oxford University Press

Published: 1994-02-17

Total Pages: 305

ISBN-13: 0195358325

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Discussions of science and values in risk management have largely focused on how values enter into arguments about risks, that is, issues of acceptable risk. Instead this volume concentrates on how values enter into collecting, interpreting, communicating, and evaluating the evidence of risks, that is, issues of the acceptability of evidence of risk. By focusing on acceptable evidence, this volume avoids two barriers to progress. One barrier assumes that evidence of risk is largely a matter of objective scientific data and therefore uncontroversial. The other assumes that evidence of risk, being "just" a matter of values, is not amenable to reasoned critique. Denying both extremes, this volume argues for a more constructive conclusion: understanding the interrelations of scientific and value issues enables a critical scrutiny of risk assessments and better public deliberation about social choices. The contributors, distinguished philosophers, policy analysts, and natural and social scientists, analyze environmental and medical controversies, and assumptions underlying views about risk assessment and the scientific and statistical models used in risk management.


Acceptable Risk

Acceptable Risk

Author: Baruch Fischhoff

Publisher: Cambridge University Press

Published: 1981

Total Pages: 228

ISBN-13: 9780521278928

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A framework for making decisions about risks, with recommendations for research, public policy, and practice.


The Tolerability of Risk from Nuclear Power Stations

The Tolerability of Risk from Nuclear Power Stations

Author: Great Britain. Health and Safety Executive

Publisher:

Published: 1992

Total Pages: 70

ISBN-13:

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This document replaces the statement and proposals made in the discussion document Tolerability of Risk form Nuclear Power Stations published in 1988. It represents a revision of the earlier document in the light of comments received and of the discussion on the document during the Hinkley Point Inquiry and in the Inquiry report.


The Owner's Role in Project Risk Management

The Owner's Role in Project Risk Management

Author: National Research Council

Publisher: National Academies Press

Published: 2005-02-25

Total Pages: 102

ISBN-13: 0309181615

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Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE's risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study's primary objective was to provide DOE project managers with a basic understanding of both the project owner's risk management role and effective oversight of those risk management activities delegated to contractors.


Risk Management Strategies and the Role of Senior Managers

Risk Management Strategies and the Role of Senior Managers

Author: Difrine Madara

Publisher: GRIN Verlag

Published: 2019-11-08

Total Pages: 26

ISBN-13: 3346053962

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Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: A, Kenyatta University, language: English, abstract: Risks are inevitable in any business organisation. In this case, a company must put in place comprehensive measures to address various types of risks that a company may face. A senior manager of any organisation has a significant role to play in designing risk management strategies for the company. This report is, therefore, about the role of senior management in risk assessment, development of the company’s risk management strategy, communication and ressourcing risk management strategies and the evaluation of outcomes. Risk management can be defined as the process of identifying, evaluating and prioritising risks supported by a well-coordinated efficient investment of ressources to minimise, monitor and control the probability of the occurrence of the unfortunate events and maximise attainment of opportunities. Risks originate from several sources, such as uncertainty in the financial markets, threats of project failure, legal issues, accidents, credit risks, and natural occurrences, among others. There are also cases where some events that have never happened before can occur, such as 9/11 terror attacks. These risks are referred to as unforeseeable risks. According to Nassim Taleb, unforeseeable risks are events, which are the rare but high impact on the business or organisation. In the contemporary business environment, inventions, such as social media and natural issues, such as global warming can have a massive impact on business thus the management should prepare for such issues or events appropriately. Risk management, therefore, encompasses strategies adopted by the organisation to ensure that the negative effects of these uncertainties are limited by avoiding, reducing, transferring or accepting the risk. However, risk management initiatives must also consider strategic risks. Basically, strategic risks refer to long-term risks that may arise from long-term decisions taken by the company. That is, a strategic risk refers to potential losses that the company may incur as a result of pursuing wrong business or long-term plans. In this regard, strategic risk management could be described as identifying, assessing and managing risk processes that arise from the company’s business strategy, which includes taking necessary actions if such risks are identified. It encompasses the evaluation of a broad range of probable incidents and circumstances that may disturb the company’s strategy and its performance.


Risk Assessment

Risk Assessment

Author: Marvin Rausand

Publisher: John Wiley & Sons

Published: 2020-03-31

Total Pages: 784

ISBN-13: 1119377234

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Introduces risk assessment with key theories, proven methods, and state-of-the-art applications Risk Assessment: Theory, Methods, and Applications remains one of the few textbooks to address current risk analysis and risk assessment with an emphasis on the possibility of sudden, major accidents across various areas of practice—from machinery and manufacturing processes to nuclear power plants and transportation systems. Updated to align with ISO 31000 and other amended standards, this all-new 2nd Edition discusses the main ideas and techniques for assessing risk today. The book begins with an introduction of risk analysis, assessment, and management, and includes a new section on the history of risk analysis. It covers hazards and threats, how to measure and evaluate risk, and risk management. It also adds new sections on risk governance and risk-informed decision making; combining accident theories and criteria for evaluating data sources; and subjective probabilities. The risk assessment process is covered, as are how to establish context; planning and preparing; and identification, analysis, and evaluation of risk. Risk Assessment also offers new coverage of safe job analysis and semi-quantitative methods, and it discusses barrier management and HRA methods for offshore application. Finally, it looks at dynamic risk analysis, security and life-cycle use of risk. Serves as a practical and modern guide to the current applications of risk analysis and assessment, supports key standards, and supplements legislation related to risk analysis Updated and revised to align with ISO 31000 Risk Management and other new standards and includes new chapters on security, dynamic risk analysis, as well as life-cycle use of risk analysis Provides in-depth coverage on hazard identification, methodologically outlining the steps for use of checklists, conducting preliminary hazard analysis, and job safety analysis Presents new coverage on the history of risk analysis, criteria for evaluating data sources, risk-informed decision making, subjective probabilities, semi-quantitative methods, and barrier management Contains more applications and examples, new and revised problems throughout, and detailed appendices that outline key terms and acronyms Supplemented with a book companion website containing Solutions to problems, presentation material and an Instructor Manual Risk Assessment: Theory, Methods, and Applications, Second Edition is ideal for courses on risk analysis/risk assessment and systems engineering at the upper-undergraduate and graduate levels. It is also an excellent reference and resource for engineers, researchers, consultants, and practitioners who carry out risk assessment techniques in their everyday work.