Blog

Variability: Variability refers to true differences in attributes due to collection or diversity. Variability is usually not reducible by further measurement or study, although it can be better characterized.  

There is a consensus on a set of core principles for risk communication, including that it takes place only at the beginning of the risk analysis process.  

Risk communication is a one-way exchange of information.    

The speed of technological change is not contributing to uncertainty in decision making.  

Risk analysis is not useful for organizations that require short-term feedback to determine whether their risk management decisions were effective.  

There are five essential steps to a good risk identification process:1. Identify the trigger event.2. Identify the hazard or opportunity for uncertain gain.3. Identify the specific harm or harms that could result from the hazard or opportunity for uncertain gain.4. Specify the sequence of events that is necessary for the hazard or opportunity for uncertain gain to result in the identified harm(s).5. Identify the most significant uncertainties in the preceding steps.  

Decision making in the public and private sectors is always deterministic.  

Correcting faulty assumptions can help reduce knowledge uncertainty.  

Risk is a measure of the probability and consequence of uncertain future events.

we need risk analysis to:• Describe these risks = (Risk Communication)• Talk about them        = (Risk Assessment)