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Quantitative Risk Assessment Goals and Challenges

  • Louis Anthony CoxJr
Chapter
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 129)

How should societies, organizations, and individuals manage risks from activities with unknown or uncertain consequences? Many regulators and scientists advocate quantitative risk assessment (QRA) as providing both a logical framework and a systematic procedure for organizing and applying scientific and engineering knowledge to improve “rational” (consequence-driven) decision making when the consequences of alternative decisions are uncertain. It seeks to do so by using predictive models to identify and recommend choices (typically, among alternative risk management interventions, policies, or plans) that are predicted to make preferred consequences more likely.

Keywords

Risk Management Bovine Spongiform Encephalopathy Expert Judgment Quantitative Risk Assessment Canadian Food Inspection Agency 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer Science+Business Media, LLC 2009

Authors and Affiliations

  1. 1.Cox AssociatesDenverUSA

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