Search results
This chapter summarizes previous academic literature about the management of risk and uncertainty. Specifically, it deals the decision-making limitations that research has found to exist when decision makers contend with important strategic issues.
- Alfred A. Marcus
- 2019
decision making manage risk and uncertainty dramatically differently. Is it useful or even possible to capture the widely varying approaches to risk and uncertainty in a single framework?
Jan 1, 2011 · However, most risk researchers and risk analysts would see risk and uncertainty assessments as decision support tools, in the sense that the assessments inform the decision makers. The decision-making is risk-informed, not risk-based [66] .
- Terje Aven, Enrico Zio
- 2011
Oct 1, 2021 · Decision Making under Deep Uncertainty (DMDU) methods are recognised approaches to navigate deep uncertainties and support robust and adaptable decisions. However, their ability to fully reflect the context in which these decisions are made has been criticised.
- Muriel C. Bonjean Stanton, Katy Roelich
- 2021
Aug 20, 2019 · Based on this systematic review, the paper makes three main critical observations about existing research: inconsistency in the conceptualization and measurement of uncertainty, lack of diversity regarding the dimensions of uncertainty included in single studies, and downplaying the role of individual decision-makers.
- Sniazhana Sniazhko
- 2019
Aug 18, 2022 · For example, where the precautionary principle advocates for preemptive risk management action under situations of scientific uncertainty and potentially catastrophic consequences, the principle of risk-based decision-making encourages decision-makers to focus on established and modifiable risks, where a return on the investment in risk ...
People also ask
Do decision-making limitations exist in the management of risk and uncertainty?
How do decision makers manage risk and uncertainty?
What are the sources of uncertainty in risk assessment & management?
Do deep uncertainty methods reflect the context of decision making?
Four primary sources of uncertainty in risk assessment and management can be identified: (1) uncertainties about definitions; (2) uncertainties about scientific facts; (3) uncertainties about risk perceptions and atti tudes; and (4) uncertainties about values.
