Developments in Managing and Exploiting Risk. Volume I, Safety Risk Management ; Integrating Economic and Safety Perspectives / Kurt J. Engemann, Eirik B. Abrahamsen.

Format:

Book

Contributor:

Abrahamsen, Eirik B., Editor.

Engemann, Kurt J., Editor.

Series:

Developments in managing and exploiting risk ; v. 5.

Developments in Managing and Exploiting Risk ; Volume I

Language:

English

Subjects (All):

Risk management.

Physical Description:

1 online resource (XIV, 232 p.)

Edition:

[First edition].

Place of Publication:

München ; Wien : De Gruyter Oldenbourg, [2020]

Language Note:

In English.

Summary:

Within the area of safety, different perspectives exist on how to provide an adequate basis for managing risk. Safety experts emphasize the cautionary principle, stating that in the face of uncertainty, caution should be the dominant standard. On the other hand, relying on economic assessment often leads to decisions made using expected values to optimize return on investment. Safety Risk Management: Integrating Economic and Safety Perspectives aims to illuminate this dichotomy while debating important questions. For example, is ‘safety always first?’ Additionally, in many risk environments only partial knowledge is available and limited emphasis may be mistakenly given to uncertainty. Risk management deals with balancing the dilemma inherent in exploring opportunities on the one hand, and avoiding losses, accidents, and disasters, on the other. Safety Risk Management: Integrating Economic and Safety Perspectives comprises a collection of work in this field with special focus given to situations with the potential for substantial reward but also with the possibility of immense losses and extreme consequences. This book aims to contribute to clarifying the problem by proposing an appropriate basis for managing risk to meet related practical challenges. The book consists of two parts: chapters covering fundamental concepts and approaches; and, chapters illustrating applications of these fundamental principles.

Contents:

Frontmatter

Advances in safety risk management

Contents

1. Exploiting risk using a comfort-based approach

2. Aligning safety science and econometric approaches to risk in complex safety-critical risk scenarios

3. Approaching transboundary wicked security risk problem through the lens of costs and benefits

4. The precautionary principle and game theory

5. Major accident risk and the use of cost-benefit analysis

6. iMaHP – Integrated assessment of quantitative and qualitative criteria for CIP security alternatives

7. Inspection Manager – An innovative tool for the selection of risk reduction measures in chemical and process industry

8. How to achieve dynamic decision principles for maintenance planning of safety critical equipment in the oil and gas industry

9. Toward the exploitative potential of practices in American stock car racing for safety and reliability

10. An extended framework for prioritizing physical safety measures to handle flood and landslide risks

11. The changing role of cost-benefit analysis in road safety policy analyses in Norway

12. Safety investment decisions in the chemical industry: Common approaches and case studies

13. How to assess socio-political impacts of safety and security measures

Contributors

Index

Notes:

Description based on online resource; title from PDF title page (publisher's Web site, viewed 26. Aug 2020)

ISBN:

9783110634051

3110634058

OCLC:

1474776892