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Dealing with risk--risk interdependencies and trade-offs in relation to development and use of new technologies

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  • A.S. Jovanović
  • V. Pilić

Abstract

The paper deals with the recognized need to systematically explore trade-offs in modern among single risks in modern risk management systems. These risk trade-offs have often been downplayed as 'side effects' or 'unintended consequences' and, even more often, poorly examined, quantified, and managed. The paper proposes how to deal with the real or possible trade-offs and within a framework which covers also the emerging risks: from early notion and indications up to fully developed and recognized (mature) risks. The trade-offs have been quantified primarily by means of indicators key/safety performance indicators. The framework relies very much on the ideas proposed by IRGC, ISO 31000, Solvency directive and other recognized concepts and takes practical examples from the running EU project iNTeg-Risk.

Suggested Citation

  • A.S. Jovanović & V. Pilić, 2013. "Dealing with risk--risk interdependencies and trade-offs in relation to development and use of new technologies," Journal of Risk Research, Taylor & Francis Journals, vol. 16(3-4), pages 393-406, April.
    • Handle: RePEc:taf:jriskr:v:16:y:2013:i:3-4:p:393-406
    DOI: 10.1080/13669877.2012.729528
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