Decision making approaches

Deciding which risk-reduction method to use maybe difficult. In many instances, appropriate decisions can be made without resorting to quantitative techniques. However, in some cases, particularly when the options are costly, quantitative risk analysis (QRA) and risk-based decision-making approaches may be an effective basis for measuring the improvement in safety arising from the proposed options. These approaches can also be used in prioritizing safety improvements and balancing cost and production issues. 

The ICH guidance on immunotoxicity testing suggests a weight-of-evidence decision making approach. The general principles that apply to this guideline are as follows ... 

Carroll NV. Financial Management for Pharmacists A Decision-Making Approach, 2nd ed. Lippincott Williams Wilkins, Philadelphia, PA, 1998. 

The data evaluation step in Tier 1 identifies the constituents of potential concern and the concentrations at which they occur in impacted media as determined by investigations conducted at the site. Most states do not require evaluation of historical data as part of the Tier 1 evaluation, although they may require submission of these data in the RBCA report as a basis for comparison (e.g., to demonstrate the decrease in constituent concentrations over time and/or demonstrate plume stability). However, the data that best represent the current environmental conditions at the site should be used in the risk-based decision-making approach. 

Figure 4.12. Overview of the Strategic Sustainable Development decision-making approach (adapted from Robert et al., 2002).

This includes understanding the vision, mission and objectives of the sponsor. Most sponsors have a company-specific clinical development strategy and product development system. Individuals new to the industry should understand the strategy and function of the major departments comprising the development process, as well as understanding the decision-making approach of the sponsor s management bodies. 

Today, various virtual e-services and physical services models may be developed, evaluated, and monitored using a balanced scorecard approach. The service value network concept also fits under this measured strategic decision-making approach. Service value networks house fully integrated e-demand and e-supply chains working in harmony to the deliver both services and e-services. They are also highly agile and offer customer-induced flexible business solutions to customer requests. 

Mendoza GA, Prabhu R. Multiple criteria decision-making approaches to assessing forest sustainability using criteria and indicators a case study. For Ecol Manag 2000 131(1) 107—26. 

Shokrian M, High KH, Sheffert Z. Screening of process alternatives based on sustainabUity metrics comparison of two decision-making approaches. IntJ Sust Eng 2014. http //dx.doi.org/10.1080/... 

Pitblado, R., Baik, J., Raghunathan, V., LNG decision making approaches compared, Journal of Hazardous Materials, 2006 130 148-154. 

Part of the risk acceptance process is a methodical decision-making approach. If the risks are not acceptable, then the system must be modified and the hazard identification process must be followed once again. If the risks are acceptable, then good documentation with written rationale is imperative to protect against liability claims. Chapters 13 and 14 address these issues in depth. Some people will use the term risk appetite to describe this process. The very first step—define objectives— should clearly define what is an acceptable risk (risk tolerance or risk appetite) that the company is willing to accept. 

Chaudhuri, Atanu, Bhaba K. Mohanty, and Kashi N. Singh. Supply Chain Risk Assessment during New Product Development A Group Decision Making Approach using Numeric and Linguistic Data. International Journal of Production... 

Ho, W., X. Xu, and P. K. Dey. (2010). Multi-criteria decision-making approaches for supplier evaluation and selection A literature review. European Journal of Operational Research 202(1) 16-24. 

The approaches and results presented here are not only for specific problems arising in prevention services. Rather, the proposed model is well-suited to other budget allocation problems in the public service domain, where multiple policies and programs have differing levels of impact on various aspects of a problem and where various multi-criteria decision-making approaches can be useful. 

Chapter 10 presents three novel safety assessment and decision making approaches. They are (1) a safety based decision support systeni using artificial neural network techniques, (2) a safety optimisation framework using Taguchi concepts, and (3) A multiple criteria decision making approach applied to safety and cost synthesis. Such approaches provide the safety analyst with more flexibility to facilitate risk modelling and decision making. 

Conventional safety assessment methods and cost benefit analysis approaches can be used to prepare a safety case. As the safety culture in the offshore industry changes, more flexible and convenient risk assessment methods and decision making approaches can be employed to facilitate the preparation of a safety case. The UKOOA framework for risk related decision support can provide an umbrella under which various risk assessment and decision making tools are employed. 

Brahm C. and Kleiner B.H., (1996) Advantages and Disadvantages Of Group Decision-Making Approaches , Team Performance Management, Vol. 2, No. 1, pp. 30-35. 

A Multiple Criteria Decision Making Approach 10.3.1 Introduction... 

This Chapter briefly summarises that the risk assessment and decision making approaches described in previous Chapters would be of benefit in marine design and operations. TTie areas where further effort is required to improve the developed approaches are outlined. 

The previous Chapters of this book have described the formal safety assessment framework in ship design and operations, and also a range of safety assessment and decision making approaches. The reasons behind the development of such approaches have been explained. Many valid reasons for using the developed safety analysis approaches have also been discussed. 

It would be useful if more test cases are applied to the described safety assessment and decision making approaches in order to further demonstrate their applicability. It would also be useful if more powerful and flexible risk modelling and decision making tools are developed to facilitate formal safety assessment of ships. 

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