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Example No. 3 on Designing for Optimally Balanced Risks

In: Integration of Project, Infrastructure, and Enterprise Risk Management

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  • Allan S. Benjamin

    (Allan Benjamin Company)

Abstract

The example demonstrates how the design of a complex system should be conducted in accordance with the risk leadership principles that all of the organization’s top-level objectives should be satisfied within the organization’s pre-established risk tolerance posture first and foremost, and given that constraint, that the aggregate risks should be as low as reasonably achievable (ALARA). The chapter restates the process flow for designing for optimally balanced risks, describes the trade studies to be performed, and states how risk drivers can be inferred from the analyses to facilitate the convergence to an optimally balanced design. It further defines the junctures at which communication between the designers and risk analysts is most critical. It concludes by providing guidance on the questions to be addressed and arguments to be developed during preparation of the case that the design of the system has been optimized based on risk considerations.

Suggested Citation

  • Allan S. Benjamin, 2025. "Example No. 3 on Designing for Optimally Balanced Risks," Risk, Governance and Society, in: Integration of Project, Infrastructure, and Enterprise Risk Management, chapter 0, pages 151-161, Springer.
    • Handle: RePEc:spr:rischp:978-3-031-85070-7_14
    DOI: 10.1007/978-3-031-85070-7_14
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