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This book gives decision-makers a logical overall philosophy of
risk that will enable them to make sound and consistently
defensible decisions about the acceptability of risk. The authors
examine a variety of activities - as diverse as major industrial
projects and medicine, finance and sport, transport and
manufacturing - to identify the factors common to all
determinations of risk acceptability, and develop a hypothesis
about the aspects of risk that are universally acceptable.
This book develops a comprehensive approach, known as the Ranking
Technique, for the assessment of decision options. It aims to
provide a way of presenting a decision maker with a consistent
method of making a thorough assessment of all the factors
associated with complex decisions. The Ranking Technique is based
on a detailed analysis of all the issues involved and presents the
results in a simple manner which should be understandable by the
lay public not versed in the complexities of the issues involved.
Ranking Technique is illustrated by application to four major
decisions that have caused controversy and one fuel resource
evaluation, although it is stressed that the Technique is
applicable to all decision-making situations. The study describes
how technical, economic and socio-political factors can be
evaluated and their significance integrated to give a comprehensive
assessment of the decision options.
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