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Risk Characterization and Evaluation

In: Risk Management and Governance

Author

Listed:
  • Terje Aven

    (University of Stavanger)

  • Ortwin Renn

    (University of Stuttgart)

Abstract

Risk characterization and evaluation aims at making judgement about risk acceptability and/or tolerability. This step follows after the appraisal stage and is undertaken in order to serve two main purposes: 1.First, to reach a balanced, value-based judgement on the tolerability/acceptability of risk or to perform a trade-off analysis of a set of functional equivalents (of the product, process, or practice under consideration). 2. Second, to initiate (if deemed necessary) a management process and make preliminary suggestions for the most suitable management approach.

Suggested Citation

  • Terje Aven & Ortwin Renn, 2010. "Risk Characterization and Evaluation," Risk, Governance and Society, in: Risk Management and Governance, chapter 0, pages 107-120, Springer.
  • Handle: RePEc:spr:rischp:978-3-642-13926-0_7
    DOI: 10.1007/978-3-642-13926-0_7
    as

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