How the distinction between general knowledge and specific knowledge can improve the foundation and practice of risk assessment and risk-informed decision-making

Terje Aven and Vidar Kristensen

Reliability Engineering and System Safety, 2019, vol. 191, issue C

Abstract: There is an increasing awareness and recognition of the importance of reflecting knowledge and lack of knowledge in relation to the understanding, assessment and management of risk. Substantial research work has been initiated to better link risk and knowledge. The present paper aims to contribute to this work by distinguishing between different types of knowledge: general knowledge and specific knowledge. For example, in relation to an offshore installation, the former captures knowledge about what could happen and why on offshore installations in general, whereas the latter covers more detailed knowledge related to the specific installation of interest and its operation. Risk management is viewed as the process of making sure that the general knowledge is sufficiently and efficiently used, including the identification of the specific knowledge needed, and ensuring that we have sufficient specific knowledge and control when assessing risk and making decisions. In the paper, we present a risk management framework built on these ideas and knowledge distinction. This framework clarifies interactions between the two knowledge bases, and how these bases can be used to improve the foundation and practice of risk assessment and management.

Date: 2019
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:191:y:2019:i:c:s0951832019303400

DOI: 10.1016/j.ress.2019.106553

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