The Tolerability of Risk: A New Framework for Risk Management

Description

The book provides a historical and topical perspective on the alternative concept of Tolerability of Risk and its concrete regulatory applications. In the UK, Tolerability of Risk has been developed into a sophisticated framework particularly within the health and safety sectors. It is expected to guide decisionmakers when applying their legal obligation of keeping risks as low as practically reasonable. Could Tolerability of Risk become a wider source of inspiration across the full scope of risk analysis and management?Written by leading academics and risk practitioners from industry and government, the book presents a summary of theoretical perspectives on risk approaches, provides a detailed elicitation of the methods and approaches used to build the Tolerability of Risk framework and looks at the prospect for universal application of the framework across a wide area of risk. From nuclear power to air and environmental pollutants to climate change to drug testing, this strategy may offer a workable, pragmatic solution for balancing risks against the costs involved in controlling them as well as in developing the institutional capacity to make effective decisions in all jurisdictions worldwide.The Tolerability of Risk is essential, cutting-edge reading for all academics, researchers, professionals and decisions makers working in the treacherous landscape of risk analysis, cost-benefit calculations, and risk reduction, management, and regulation.