Chapter

Analysing risk

in Risk

Published in print May 2011 | ISBN: 9780199576203
Published online September 2013 | e-ISBN: 9780191777714 | DOI: http://dx.doi.org/10.1093/actrade/9780199576203.003.0004

Series: Very Short Introductions

Analysing risk

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‘Analysing risk’ shows how risk analysts measure risks and determine their sources. This involves observing a situation, then using scientific knowledge to extrapolate these observations to unknown or future situations. In complex situations this involves computer modelling of potential scenarios. Risk analysts attempt to find sources of risk and track their pathways through a scenario, and point out any points where interventions could be made to prevent harm occurring. Risk analysis relies on expert judgement to make sense of the analysis and inform decision making, but this can be a source of error.

Keywords: extrapolation; finance; forecasting; global warming; media; power; regulation; risk; risk analysis; statistics; worker

Chapter.  5752 words.  Illustrated.

Subjects: Business and Management ; Economics ; Research and Information

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