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Foundational Issues in Risk Assessment and Risk Management

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  • Terje Aven

Abstract

In spite of the maturity reached by many of the methods used in risk assessment and risk management, broad consensus has not been established on fundamental concepts and principles. The risk fields still suffer from a lack of clarity on many key scientific pillars. The purpose of this article is to point to this situation and through some illustrating examples discuss the challenges that the fields here face. Moreover, the purpose of the article is to reflect on how to improve the present situation and enhance the risk fields. We argue that the establishment of some common scientific pillars as well as a strong and continuous research focus on foundational issues are critical success factors. The article specifically addresses the role of the peer‐reviewed journals and the international standards in the fields. We hope that the article can contribute to a revitalization of the discussion of foundational issues in risk assessment and risk management.

Suggested Citation

  • Terje Aven, 2012. "Foundational Issues in Risk Assessment and Risk Management," Risk Analysis, John Wiley & Sons, vol. 32(10), pages 1647-1656, October.
    • Handle: RePEc:wly:riskan:v:32:y:2012:i:10:p:1647-1656
    DOI: 10.1111/j.1539-6924.2012.01798.x
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