Week 9: Risk Analysis

Question 1

What is the importance of risk analysis?

Answer 1

1.) Understanding the consequences and uncertainties
2.) Systematise and describe the knowledge and lack of knowledge \
3.) Identify factors, conditions, activities, system that are critical with respect to risks
4.) Compare different alternatives and solutions

Question 2

What are the steps for the risk process?

Answer 2

1. Planning
2. Risk Assessment
3. Risk Treatment

Question 3

What are the steps for the risk assessment?

Answer 3

• Identify the risk
• Cause analysis
• Consequence analysis
• Uncertainties
• Evaluate whether the risk is acceptable

Question 4

What are the steps for Decision Making with Uncertainty?

Answer 4

1.) Situation
2.) Goal-setting, preferences, and performance measures
3.) Decision criteria
4.) Review and judgement by the decision-maker

Question 5

What are the two types of risks?

Answer 5

1.) Direct risks
2.) Indirect risks - mental health, migration, social wellbeing, and cohesion.

Question 6

How to avoid surprises?

Answer 6

• Provide an overview of the assumptions made (list the background knowledge, methods, etc. used in the assessment)
• Assess the risk from deviations to those assumptions (sensitivity)
• Try to reduce the assumptions that have the largest impact on the risk
• Engage a range of individuals and perspectives in the process