Identification and evaluation of priorities in the business process of a risk or safety organization

Kuei-Yung Teng, Shital A. Thekdi and James H. Lambert

Reliability Engineering and System Safety, 2012, vol. 99, issue C, 74-86

Abstract: Agencies are increasingly following principles and guidelines for the coordination of risk assessment, risk management, and risk communication in large-scale programs. In particular, there is a challenge to comply with the U.S. Office of Management and Budget (OMB) memorandum “Updated Principles for Risk Analysis†among other guidelines. This paper demonstrates a systemic approach to achieve compliance of a risk program with administrative and organizational principles and guidelines for risk analysis. The paper suggests three canonical questions as the mission of such a program: (i) what sources of risks are to be managed by the program, (ii) how should multiple risk assessment, risk management, and risk communication activities be administered and coordinated, and what should be the basis for resource allocation to these activities, and (iii) how will the performance of the program be monitored and evaluated. The paper demonstrates a re-prioritization of policy initiatives of the program based on emergent and future conditions. The approach is useful to agencies implementing risk or safety organizational guidelines such as those of the OMB, the US Government Accountability Office, the US Department of Homeland Security, the US Department of Defense, and others. This paper will be of interest to risk managers; agencies; and risk and safety analysts engaged in the conception, implementation, and evaluation of risk or safety programs.

Keywords: Risk management; Risk program; Safety program; Risk communication; Scenario-based impact analysis; Emergent conditions; Organizational failures (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:99:y:2012:i:c:p:74-86

DOI: 10.1016/j.ress.2011.10.006

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