 A methodology to evaluate risk for supporting decisions involving alignment with organizational valuesShital A. Thekdi and Terje Aven Reliability Engineering and System Safety, 2018, vol. 172, issue C, 84-93 Abstract: There is an increasing need for organizations to evaluate aspects that are not easily quantified, such as alignment with organizational values, within their strategic planning decisions. These aspects are often insufficiently understood and are rapidly changing, with potential to cause severe negative consequences. Because there is no accepted methodology for characterizing these aspects, this type of risk is often neglected or given inadequate attention. This paper develops a methodology to evaluate risk and uncertainty related to alignment with organizational values. The methodology builds on risk perspectives involving uncertainties and knowledge rather than probability estimates. We illustrate the methodology on an application within the energy sector. This paper is relevant for both public and private sector organizations who face the dilemma of “what you cannot measure you cannot manage†, implying a struggle to include low-data and low-knowledge aspects into risk-based decisions. Date: 2018 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:172:y:2018:i:c:p:84-93 DOI: 10.1016/j.ress.2017.12.001 Access Statistics for this article Reliability Engineering and System Safety is currently edited by Carlos Guedes Soares More articles in Reliability Engineering and System Safety from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.