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Risk Analysis
  • Language: en
  • Pages: 216

Risk Analysis

A practical guide to the varied challenges presented in the ever-growing field of risk analysis. Risk Analysis presents an accessible and concise guide to performing risk analysis, in a wide variety of field, with minimal prior knowledge required. Forming an ideal companion volume to Aven's previous Wiley text Foundations of Risk Analysis, it provides clear recommendations and guidance in the planning, execution anduse of risk analysis. This new edition presents recent developments related to risk conceptualization, focusing on related issues on risk assessment and their application. New examples are also featured to clarify the reader's understanding in the application of risk analysis and ...

Misconceptions of Risk
  • Language: en
  • Pages: 179

Misconceptions of Risk

We all face risks in a variety of ways, as individuals, businesses and societies. The discipline of risk assessment and risk management is growing rapidly and there is an enormous drive for the implementation of risk assessment methods and risk management in organizations. There are great expectations that these tools provide suitable frameworks for obtaining high levels of performance and balance different concerns such as safety and costs. The analysis and management of risk are not straightforward. There are many challenges. The risk discipline is young and there area a number of ideas, perspectives and conceptions of risk out there. For example many analysts and researchers consider it a...

Risk, Surprises and Black Swans
  • Language: en
  • Pages: 300

Risk, Surprises and Black Swans

  • Type: Book
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  • Published: 2014-08-13
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  • Publisher: Routledge

Risk, Surprises and Black Swans provides an in depth analysis of the risk concept with a focus on the critical link to knowledge; and the lack of knowledge, that risk and probability judgements are based on. Based on technical scientific research, this book presents a new perspective to help you understand how to assess and manage surprising, extreme events, known as ‘Black Swans’. This approach looks beyond the traditional probability-based principles to offer a broader insight into the important aspects of uncertain events and in doing so explores the ways to manage them. This book recognises the fundamental issues surrounding risk assessment and risk management to help you to understand and prepare for black swan events. Complete with international examples to illustrate ideas and concepts Integrates risk management and resilience based thinking Suitable for a variety of applications including engineering, finance and security.

Risk Science
  • Language: en
  • Pages: 427

Risk Science

  • Type: Book
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  • Published: 2021-09-12
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  • Publisher: Routledge

Risk science is becoming increasingly important as businesses, policymakers and public sector leaders are tasked with decision-making and investment using varying levels of knowledge and information. Risk Science: An Introduction explores the theory and practice of risk science, providing concepts and tools for understanding and acting under conditions of uncertainty. The chapters in this work cover the fundamental concepts, principles, approaches, methods and models for how to understand, assess, communicate, manage and govern risk. These topics are presented and examined in a way which details how they relate, for example, how to characterize and communicate risk with particular emphasis o...

Foundations of Risk Analysis
  • Language: en
  • Pages: 208

Foundations of Risk Analysis

Everyday we face decisions that carry an element of risk and uncertainty. The ability to analyse, communicate and control the level of risk entailed by these decisions remains one of the most pressing challenges to the analyst, scientist and manager. This book presents the foundational issues in risk analysis ? expressing risk, understanding what risk means, building risk models, addressing uncertainty, and applying probability models to real problems. The principal aim of the book is to give the reader the knowledge and basic thinking they require to approach risk and uncertainty to support decision making. Presents a statistical framework for dealing with risk and uncertainty. Includes det...

Risk Analysis
  • Language: en
  • Pages: 207

Risk Analysis

Everyday we face decisions that carry an element of risk anduncertainty. The ability to analyze, predict, and prepare for thelevel of risk entailed by these decisions is, therefore, one of themost constant and vital skills needed for analysts, scientists andmanagers. Risk analysis can be defined as a systematic use of informationto identify hazards, threats and opportunities, as well as theircauses and consequences, and then express risk. In order tosuccessfully develop such a systematic use of information, thoseanalyzing the risk need to understand the fundamental concepts ofrisk analysis and be proficient in a variety of methods andtechniques. Risk Analysis adopts a practical, predictiveap...

The Science of Risk Analysis
  • Language: en
  • Pages: 530

The Science of Risk Analysis

  • Type: Book
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  • Published: 2019-06-21
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  • Publisher: Routledge

This book provides a comprehensive demonstration of risk analysis as a distinct science covering risk understanding, assessment, perception, communication, management, governance and policy. It presents and discusses the key pillars of this science, and provides guidance on how to conduct high-quality risk analysis. The Science of Risk Analysis seeks to strengthen risk analysis as a field and science by summarizing and extending current work on the topic. It presents the foundation for a distinct risk field and science based on recent research, and explains the difference between applied risk analysis (to provide risk knowledge and tackle risk problems in relation to for example medicine, en...

Risk Management and Governance
  • Language: en
  • Pages: 284

Risk Management and Governance

Risk is a popular topic in many sciences - in natural, medical, statistical, engineering, social, economic and legal disciplines. Yet, no single discipline can grasp the full meaning of risk. Investigating risk requires a multidisciplinary approach. The authors, coming from two very different disciplinary traditions, meet this challenge by building bridges between the engineering, the statistical and the social science perspectives. The book provides a comprehensive, accessible and concise guide to risk assessment, management and governance. A basic pillar for the book is the risk governance framework proposed by the International Risk Governance Council (IRGC). This framework offers a comprehensive means of integrating risk identification, assessment, management and communication. The authors develop and explain new insights and add substance to the various elements of the framework. The theoretical analysis is illustrated by several examples from different areas of applications.

Risk Management
  • Language: en
  • Pages: 206

Risk Management

This book presents a risk management framework designed to achieve better decisions and more desirable outcomes. It presents an in-depth discussion of some fundamental principles of risk management related to the use of expected values, uncertainty handling, and risk acceptance criteria. Several examples from the offshore petroleum industry are included to illustrate the use of the framework, but it can also be applied in other areas.

Quantitative Risk Assessment
  • Language: en
  • Pages: 225

Quantitative Risk Assessment

Quantitative risk assessments cannot eliminate risk, nor can they resolve trade-offs. They can, however, guide principled risk management and reduction - if the quality of assessment is high and decision makers understand how to use it. This book builds a unifying scientific framework for discussing and evaluating the quality of risk assessments and whether they are fit for purpose. Uncertainty is a central topic. In practice, uncertainties about inputs are rarely reflected in assessments, with the result that many safety measures are considered unjustified. Other topics include the meaning of a probability, the use of probability models, the use of Bayesian ideas and techniques, and the use of risk assessment in a practical decision-making context. Written for professionals, as well as graduate students and researchers, the book assumes basic probability, statistics and risk assessment methods. Examples make concepts concrete, and three extended case studies show the scientific framework in action.