Risk Management Flashcards
Define
Risk Management
Process of identifying, evaluating, prioritizing, and choosing among policy options (IEPC)
* Identifying options, decisions, and actions based on scientific findings
* Also incorporating non-science factors
What are some examples of non-scientific factors that may be incorporated in risk management?
No pressure tho
- economic costs & benefits
- legal reqs & restrictions
- administrative implementability
- stakeholder concerns
- political factors
Explain
First risk-reduction step removes 90% of the risk
First strategy is always the most important
* Your opportunity to reduce the most risk
* Law of Diminishing Returns
* Ex. quarantine
What comes into play with your first reduction step?
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- Stakeholders - g ba sila
- Resources available - meron ba
- Political will - will policy follow you? (know your congress)
List
Factors for Risk Management
5
- Acceptable level of risk
- Existing legislation
- Economic cost and benefits
- Administrative considerations
- Stakeholder perceptions
AESEA
Define & Explain
Acceptable level of risk
Factors for Risk Management
- Level of risk a society is willing to accept
- Also look at given the cost of strategy, how will it impact the risk
Define & Explain
Existing legislation
Factors for Risk Management
whether proposed policy fits in current legal framework or if a new one is required
LGUs can be accepting or not, depends
Define & Explain
Economic cost and benefits
Factors for Risk Management
Evaluating policy options on feasibility
Define & Explain
Administrative considerations
Factors for Risk Management
Certain policies are more complicated to implement
Define & Explain
Stakeholder perceptions
Factors for Risk Management
- If pop challenges/discards policy ure fucked
- Rapport with community is important
- Why you need to go through LGU first when on fieldwork
List
Risk Management Approaches
5
- Stakeholder Engagement
- Risk-Based Management
- Intuitive Approaches
- Precautionary Principle
- Risk Perception
SIRRP
Explain
Stakeholder Engagement
Risk Management Approach
- proactive engagement
- to formulate q’s and build a basis for acceptable remedies
- can lead to identification of practical approaches that can be rejected by distant experts
How does Stakeholder Engagment lead to identification of practical approaches?
- account for overall context
- account for possible behavior modifications
- to identify exposure na ok lang sa community
How is a Stakeholder Engagement effective/ineffective?
[-] Takes longer because you have to consult (FGDs, identifying point persons & decision makers)
[+] you know the community is okay with, so they will probs comply
- Sometimes, no matter what science says, if the community thinks it’s not significant, they won’t apply the strategy you made
- Need to inform stakeholders why it may be a risk
What is Risk-Based Management?
Basing policies on known levels of risk