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understand and manage risks (see Risk Analysis).
(Take just one example: Although antilock brake systems without electronic stability control decrease the risk of fatal collision for those outside the vehicle, they may increase that risk for those on the inside). Careful design therefore requires selection of system boundaries, assessment of risks and opportunities, and analysis of costs and benefits.
It is the ultimate high-risk opportunity.
Develop New Business / Risk opportunities.
Ability to deal with risks, opportunities.
Engineering Risk Analysis, Risk Management and Decision Analysis.
Research Interests: Nanomaterials, risk analysis, risk assessment, decision-support.
(ii) Carry out risk analysis ("stochastic risk analysis") with a risk-modeling programme.
Behavioral manifestations: Fear of criticism, risk-aversion, "analysis paralysis", reluctance to embrace opportunities, anti-innovation bias.
Despite its limitations, Dynamic Risk Analysis represents an opportunity for improved decision-making support and critical risk communication.
Peter Koudijs: Risk Analysis or Risk Paralysis?
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CEO of Professional Science Editing for Scientists @ prosciediting.com