CATEGORY: RISK MANAGEMENT
Safety Science, Volume 62, February 2014, Pages
386–399
Foundations
and choice of risk metrics
Inger Lise Johansen, Marvin Rausand
Department of Production and Quality Engineering, Norwegian University of
Science and Technology, NO 7491 Trondheim, Norway
Abstract
Risk
metrics are essential for expressing, communicating, and using the results of
risk analysis in risk-informed decision-making. Authors explain the fundamental
issues concerning the interpretation and choice of such metrics and provide
practical guidance for this purpose.
Their main contribution is a clarification of 11 evaluation criteria
that can be used as a basis for discussing and evaluating risk metrics in
dialog with relevant stakeholders in an analytic-deliberative process. They
summarize the criteria in an overall discussion on informative, value-related,
and analytical issues affecting the interpretation and choice of risk metrics.
Three examples are provided to illustrate.
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