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Defining risk.

By: Contributor(s): Material type: TextTextLanguage: ENG Publication details: 1983Description: 37p., no refsReport number: Academic; CUED/F-CAMS/TR-234-1983; PB84-139575Subject: CompetitionSubject: DefinitionsSubject: ManagementSubject: PoliciesSubject: Research projectsSubject: RiskSubject: Risk is the focal topic in the management of many activities and technologies. For that management to be successful, an explicit and accepted definition of the term 'risk' is essential. The present analysis argues that deriving that definition is a political act, expressing the definers' values reguarding the importance of the different possible consequences associated with a technology. It goes on to show how those value issues can be systematically and explicitly addressed. As an example, the risks of six competing energy technologies are expressed in terms of four competing definitions of risk, showing that relative riskiness can be highly sensitive to the definition adopted. The role of risk indices in policy making and directions for future research are discussedSubject: Technology
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Competition

Definitions

Management

Policies

Research projects

Risk

Risk is the focal topic in the management of many activities and technologies. For that management to be successful, an explicit and accepted definition of the term 'risk' is essential. The present analysis argues that deriving that definition is a political act, expressing the definers' values reguarding the importance of the different possible consequences associated with a technology. It goes on to show how those value issues can be systematically and explicitly addressed. As an example, the risks of six competing energy technologies are expressed in terms of four competing definitions of risk, showing that relative riskiness can be highly sensitive to the definition adopted. The role of risk indices in policy making and directions for future research are discussed

Technology

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