Week 9: Risk Analysis Flashcards

1
Q

What is the importance of risk analysis?

A

1.) Understanding the consequences and uncertainties
2.) Systematise and describe the knowledge and lack of knowledge \
3.) Identify factors, conditions, activities, system that are critical with respect to risks
4.) Compare different alternatives and solutions

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2
Q

What are the steps for the risk process?

A
  1. Planning
  2. Risk Assessment
  3. Risk Treatment
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3
Q

What are the steps for the risk assessment?

A
  • Identify the risk
  • Cause analysis
  • Consequence analysis
  • Uncertainties
  • Evaluate whether the risk is acceptable
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4
Q

What are the steps for Decision Making with Uncertainty?

A

1.) Situation
2.) Goal-setting, preferences, and performance measures
3.) Decision criteria
4.) Review and judgement by the decision-maker

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5
Q

What are the two types of risks?

A

1.) Direct risks
2.) Indirect risks - mental health, migration, social wellbeing, and cohesion.

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6
Q

How to avoid surprises?

A
  • Provide an overview of the assumptions made (list the background knowledge, methods, etc. used in the assessment)
  • Assess the risk from deviations to those assumptions (sensitivity)
  • Try to reduce the assumptions that have the largest impact on the risk
  • Engage a range of individuals and perspectives in the process
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