Risktec Solutions

Risk based decision making

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Decisions evolve around the need to make choices, either to do or not to do something, or to select one option from
a range of options. The choices available are often constrained by social, technical, business, safety and environmental requirements and objectives. Successful decision making requires an understanding of these many requirements and objectives, their relative importance, and how to assess options and make the ‘best’ decision. A typical framework for the decision making process is illustrated in Fig. 1. The importance of the change dictates the extent and formality of assessment, documentation, review, consultation and approval.

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