Risk Management (eBook, PDF)

With Applications from the Offshore Petroleum Industry

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Risk management is a decision-making process which considers various factors with risk assessments relating to a potential hazard, in order to develop regulatory response options. Technological developments, organisational changes and increased demand for efficiency have influenced the vulnerability of our society. Thus, safety and risk management is becoming an important field.This book discusses some fundamental principles of risk management, related to the use of expected values, uncertainty handling and risk acceptance criteria. A decision framework for risk management is developed that pr...

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