Developments in Managing and Exploiting Risk. / Volume I, : Safety Risk Management ; Integrating Economic and Safety Perspectives / / ed. by Kurt J. Engemann, Eirik B. Abrahamsen.

• Superior document: Title is part of eBook package: De Gruyter DG Ebook Package English 2020
• MitwirkendeR: Abrahamsen, Eirik B.,; Abrahamsen, Håkon B.,; Berg, Hallvard,; Blobner, Christian,; Elvik, Rune,; Engemann, Krista N.,; Engemann, Kurt J.,; Hausken, Kjell,; Husebø, Torleif,; Hutter, Reinhard,; Jore, Sissel H.,; Klein, Peter,; Langdalen, Henrik,; Langley, Sophia F.,; Maschio, Giuseppe,; Milazzo, Maria F.,; Miller, Holmes E.,; Scott, Cliff W.,; Selvik, Jon T.,; Vianello, Chiara,
• HerausgeberIn: Abrahamsen, Eirik B.,; Engemann, Kurt J. ,
• Place / Publishing House: München ;, Wien : : De Gruyter Oldenbourg, , [2020]; ©2020
• Year of Publication: 2020
• Language: English
• Series: Developments in Managing and Exploiting Risk ; Volume I
• Physical Description: 1 online resource (XIV, 232 p.)

Within the area of safety, different perspectives exist on how to provide an adequate basis for managing risk. Safety experts emphasize the cautionary principle, stating that in the face of uncertainty, caution should be the dominant standard. On the other hand, relying on economic assessment often leads to decisions made using expected values to optimize return on investment. Safety Risk Management: Integrating Economic and Safety Perspectives aims to illuminate this dichotomy while debating important questions. For example, is ‘safety always first?’ Additionally, in many risk environments only partial knowledge is available and limited emphasis may be mistakenly given to uncertainty. Risk management deals with balancing the dilemma inherent in exploring opportunities on the one hand, and avoiding losses, accidents, and disasters, on the other. Safety Risk Management: Integrating Economic and Safety Perspectives comprises a collection of work in this field with special focus given to situations with the potential for substantial reward but also with the possibility of immense losses and extreme consequences. This book aims to contribute to clarifying the problem by proposing an appropriate basis for managing risk to meet related practical challenges. The book consists of two parts: chapters covering fundamental concepts and approaches; and, chapters illustrating applications of these fundamental principles.

Table of Contents

Frontmatter -- Advances in safety risk management -- Contents -- Part I: Fundamentals -- 1. Exploiting risk using a comfort-based approach -- 2. Aligning safety science and econometric approaches to risk in complex safety-critical risk scenarios -- 3. Approaching transboundary wicked security risk problem through the lens of costs and benefits -- 4. The precautionary principle and game theory -- 5. Major accident risk and the use of cost-benefit analysis -- 6. iMaHP – Integrated assessment of quantitative and qualitative criteria for CIP security alternatives -- Part II: Applications -- 7. Inspection Manager – An innovative tool for the selection of risk reduction measures in chemical and process industry -- 8. How to achieve dynamic decision principles for maintenance planning of safety critical equipment in the oil and gas industry -- 9. Toward the exploitative potential of practices in American stock car racing for safety and reliability -- 10. An extended framework for prioritizing physical safety measures to handle flood and landslide risks -- 11. The changing role of cost-benefit analysis in road safety policy analyses in Norway -- 12. Safety investment decisions in the chemical industry: Common approaches and case studies -- 13. How to assess socio-political impacts of safety and security measures -- Contributors -- Index