Risk Assessment

1Risk Assessment

Risk assessment can be defined as the process of estimating the probability of occurrence of an event and the probable magnitude of adverse effect-safety, health, ecological or financial – over a specified time period (Rao V. Kolluru). Risk assessment can be divide into five (5) points which are safety risk, health risk, ecological risk, public welfare risk and financial risks which with this point it can help people to measure risk. Anyway, there are several risk assessment paradigm and models that are always using in studies which are (a) American Model; and (b) Canadian Model.

1Risk Assessment Application

Risk assessment can be applied in a variety of situations, for examples :

a)      Assess the benefits and cost of existing and proposed regulations;

b)      Assess benefit versus risks of new drug;

c)      Appraise benefit versus risks of pesticide use;

d)     Conduct baseline analysis of a site or facitlity to determine the need for remedial action and the extent of clean up required;

e)      Develop clean up goals for contaminants where the numerical standards have not been promulgated and to set priorities for corrective action;

f)       Develop a scientific frame work for closing down or decommisioning facilities;

g)      Provide a scientific basis for a corporate risk reduction and management programme.

Risk Assesement Advantages

There are several risk assesment advantages which are :

a)      “bottom line” public health and safety concerns addressed with a common language;

b)      Systematic framework for priotizing problems, allocating resources and avoiding  future problems;

c)      Scientific underpinnings for risk management.

 Risk Assessment Limitation

a)      No broad consensus on the purpose, the approach or the results; inadequate data, speculative and myopic nature of assumption;

b)      Few qualified professional with needed range of skills; risk assessors, engineers and economists talk different language;

Multiple events, diverse intense, unrealistic expectations, credibility problems.