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A new perspective on Renn and Klinke's approach to risk evaluation and management

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  • Kristensen, V.
  • Aven, T.
  • Ford, D.

Abstract

In this paper we discuss Renn and Klinke's approach for risk evaluation and selection of risk management strategies. The main focus in the discussion is the foundational basis and the understanding of what risk is, and how a different foundational basis may simplify and improve the characterization of risk. We will present and discuss an alternative set of characteristics, and give some recommendations with respect to selection of risk management strategies based on different values or magnitudes of these characteristics. We believe that the main focus when describing and managing risk should be the potential consequences, represented by observable quantities, and the uncertainty related to their future values.

Suggested Citation

  • Kristensen, V. & Aven, T. & Ford, D., 2006. "A new perspective on Renn and Klinke's approach to risk evaluation and management," Reliability Engineering and System Safety, Elsevier, vol. 91(4), pages 421-432.
    • Handle: RePEc:eee:reensy:v:91:y:2006:i:4:p:421-432
    DOI: 10.1016/j.ress.2005.02.006
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    Citations

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    Cited by:

    1. Tsavdaroglou, Margarita & Al-Jibouri, Saad H.S. & Bles, Thomas & Halman, Johannes I.M., 2018. "Proposed methodology for risk analysis of interdependent critical infrastructures to extreme weather events," International Journal of Critical Infrastructure Protection, Elsevier, vol. 21(C), pages 57-71.
    2. Kasai, Naoya & Matsuhashi, Shigemi & Sekine, Kazuyoshi, 2013. "Accident occurrence model for the risk analysis of industrialfacilities," Reliability Engineering and System Safety, Elsevier, vol. 114(C), pages 71-74.
    3. Abby Muricho Onencan & Lian Ena Liu & Bartel Van de Walle, 2020. "Design for Societal Resilience: The Risk Evaluation Diversity-Aiding Approach (RED-A)," Sustainability, MDPI, vol. 12(13), pages 1-28, July.
    4. David Etkin & J. Medalye & K. Higuchi, 2012. "Climate warming and natural disaster management: An exploration of the issues," Climatic Change, Springer, vol. 112(3), pages 585-599, June.
    5. Aven, Terje, 2007. "A unified framework for risk and vulnerability analysis covering both safety and security," Reliability Engineering and System Safety, Elsevier, vol. 92(6), pages 745-754.
    6. Aven, Terje, 2008. "A semi-quantitative approach to risk analysis, as an alternative to QRAs," Reliability Engineering and System Safety, Elsevier, vol. 93(6), pages 790-797.

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