Acceptable Risk: A Conceptual Proposal
- Topics:
- Enterprise Risk Management
- Tags:
- Details,
- Franklin Pierce Law Center,
- Government,
- Industry,
- Management,
- Orderly Regulation,
- Regulations,
- Strategy
- Source:
- Franklin Pierce Law Center
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Overview: The article asserts that perhaps the most widely sought quantity in the management of hazardous technologies is the acceptable level of risk. Embedded in an acceptable political process, the suggested procedure would offer some chance of making the regulation of hazardous technologies more predictable and satisfying. Orderly regulation requires well-specified, logically defensible procedures. Without them, regulation is chaotic, unpredictable and frustrating, with little promise of providing either the sort of protection the public desires or the sort of stable environment that industry needs. Within these goals, an approach has been developed that makes the welfare of individual citizens the primary concern of regulatory processes, while still providing industry with a clear, flexible, and sensible set of requirements. Details are necessarily sketchy and merit elaboration only if the proposal seems practical enough and political enough to offer the possibility of a more orderly and coherent treatment of acceptability -- a task that so far has defied our best efforts, especially efforts attempting to specify a fixed level of "acceptable risk."
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Format: HTML | Date: Jan 2003 | Pages: 1
