Risk management options

Identify Process Controls and Risk Management Options Process Risk Management Process Hazard Analysis Operational Control... 

Identify Process Controls and Risk Management Options... 

Evaluation of Public -Health, Economic, Social, and Political Contexts for Risk-Management Options... 

For allergen cross-contamination, no official regulation or guidance exists so industry depends on its own risk analysis or consultancy to set risk management options. 

Risk reduction is often not a choice but simply required. Basically there are three risk management options carry/accept the risk, transfer the risk (for instance insurance, but also labeling a disclaimer can be considered as a transfer of risk), or avoid or reduce the risk. 

Sensitivity analysis can be used to identify and prioritize key sources of uncertainty or variability. Knowledge of key sources of uncertainty and their relative importance to the assessment end-point is useful in determining whether additional data collection or research would be useful in an attempt to reduce uncertainty. If uncertainty can be reduced in an important model input, then the corresponding uncertainty in the model output would also be reduced. Knowledge of key sources of controllable variability, their relative importance and critical limits is useful in developing risk management options. 

Risk management reviews the information and findings from risk appraisal (risk assessment and concern assessment) and the results and conclusions from tolerability and acceptability judgment (risk characterization and evaluation), in order to assess, evaluate and select appropriate risk management options. Starting point for risk management are three potential outcomes ... 

Afterwards the decision making unit assesses the risk management options with respect to predefined criteria. Each of the options will have desired and unintended consequences which relate to the risks that they are supposed to reduce. In most instances, an assessment should be done according to the following criteria ... 

The final step in the decision making process should be the selection of risk management options. Once the different options are evaluated, a decision has to be made as to which options are selected and which rejected. This decision is obvious if one or more options turn out to be dominant (relatively better on all criteria). Otherwise, trade-offs have to be made that need legitimisation (Graham and Wiener 1995). A legitimate decision can be made on the basis of formal balancing tools (such as cost-benefit or multi-criteria-decision analysis), by the respective decision makers (given his decision is informed by a holistic view of the problem) or in conjunction with participatory procedures. 

Involvement in risk-related decisions and conflict resolution give stakeholders and representatives of the public the opportunity to participate in the risk appraisal and management efforts and/or be included in the resolution of conflicts about risks and appropriate risk management options. 

The assessment, management and communication of risk typically forms three separate (but interlinked) processes (Figure 2.4a) [159, 160]. Certain aspects of risk assessment are purely scientific (e.g., physical chemistry tests) and some aspects of risk management are only technical (e.g., product standards), but overlaps do occur (Figure 2.4b). For instance, risk management options generally determine the depth and scope of the risk assessment24 [161]. 

A technical-based approach follows the view that risks should be reduced to achieve an adequate level of safety, but does not require a socio-economic analysis of alternative risk management options. Standards are set according to available technology to ensure that certain margins of safety are not exceeded. A risk-benefit approach bases decisions on the results of socio-economic and stakeholder consultation. 

Risk management options (voluntary agreements, taxes)... 

The history of risk management reveals that the risk management options which are selected do influence the risk assessments that are performed. They are not independent. The fundamental aim of risk management is the reduction of exposure, because toxicity to humans is an inherent (and unchangeable) property of each chemical. Examples of exposure reduction include ... 

The third level is dealing with different worldviews, social values and concepts of good life . This is the case when quality of life is a part of the risk assessment and the search for appropriate risk management options. Here, neither scientific expertise nor discursive competence and openness are sufficient. The main issues are trust and social responsibility. 

Successful examples of the Risk Management Framework cited by the Commission are (1) stakeholders and EPA identified risk management options for the pulp and paper and the steel industries ... 

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