Risk Management in Decision Making

  • Jie Lu
  • Lakhmi C. Jain
  • Guangquan Zhang
Part of the Intelligent Systems Reference Library book series (ISRL, volume 33)


Organizational decision making often occurs in the face of uncertainty about whether a decision maker’s choices will lead to benefit or disaster. Risk is the potential that a decision will lead to a loss or an undesirable outcome. In fact, almost any human decision carries some risk, but some decisions are much more risky than others. Risk and decision making are two inter-related factors in organizational management, and they are both related to various uncertainties.


Supply Chain Risk Management Risk Management Process Group Decision Support System Grassland Fire 
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.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    AS/NZA ISO 31000: Risk management – Principles and guidelines, Standards Australia (2009)Google Scholar
  2. 2.
    Chong, S., Poulos, R., Olivier, J., Watson, W.L., Grzebieta, R.: Relative injury severity among vulnerable non-motorised road users: compara-tive analysis of injury arising from bicycle-motor vehicle and bicycle-pedestrian collisions. Accident Analysis & Prevention 42(1), 290–296 (2010)CrossRefGoogle Scholar
  3. 3.
    Eydeland, A., Wolyniec, K.: Energy and power risk management, new developments in modeling, pricing, and hedging, John Wiley and Sons (2003)Google Scholar
  4. 4.
    Britain, G.: Management of risk: guidance for practitioners. Office of Government Commerce (2007)Google Scholar
  5. 5.
    Holzmann, R., Jorgensen, S.: Social protection as social risk man-agement: conceptual underpinnings for the social protection sector strategy paper. Journal of International Development 11(7), 1005–1027 (1999)CrossRefGoogle Scholar
  6. 6.
    Weber, O., Scholz, R.W., Michalik, G.: Incorporating sustainability criteria into credit risk management. Business Strategy and the Environment 19(1), 39–50 (2010)Google Scholar
  7. 7.
    Zhang, J., Lu, J., Zhang, G.: A hybrid knowledge-based risk prediction method using fuzzy logic and CBR for avian influenza early warning. Accepted by Journal of Multi-Valued Logic and Soft Computing 17(4), 363–386 (2011)Google Scholar
  8. 8.
    Zhang, G., Ma, J., Lu, J.: Emergency management evaluation by a fuzzy multi-criteria group decision support system. Stochastic Environmental Research and Risk Assessment 23(4), 517–527 (2009)MathSciNetCrossRefGoogle Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Jie Lu
    • 1
  • Lakhmi C. Jain
    • 2
  • Guangquan Zhang
    • 1
  1. 1.Decision Systems & e-Service Intelligence Laboratory, Centre for Quantum Computation & Intelligent Systems, School of Software, Faculty of Engineering and Information TechnologyUniversity of Technology Sydney (UTS)Australia
  2. 2.School of Electrical and Information EngineeringUniversity of South AustraliaAdelaideAustralia

Personalised recommendations