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The presentation displays two examples of Phase I Risk Based Decision Making. ...
The presentation displays two examples of Phase I Risk Based Decision Making.
Phase I means that a preliminary decision is made based on Risk Prioritization alone, without financial comparative evaluations of the alternatives using CDA-ESM (i.e. evaluating the long term cost of the alternatives including upside and downside risks).
The first example relates to selecting a different transportation mode (or altering a status quo) for the personnel of a remote operation in a country where traffic accidents represent a very high and well known risk. As you will see in the presentation, none of the considered alternatives actually solves the problem (mitigates the risks below an Acceptability societal risk and/or Client's specific Tolerability threshold.
The second example examines a rather complex process (over twenty elements) and defines a prioritized list of mitigative needs. By applying a Tolerability criteria it is possible to rationally, transparently and defensibly focus the attention on the most critical elements of the system. The result? Allotting mitigative funds in the most appropriate and efficient manner.
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