What defines risk-based decision making?

What defines risk-based decision making?

• A. Evaluate risk at decision points
• B. Balance risk with mission requirements
• C. All of the above
• D. Allocate resources to reduce risk

Answer: (C)

Risk-based decision making means considering risk at each decision point, weighing that risk against mission requirements, and directing resources to reduce risk. In practice, you assess the likelihood and impact of hazards, determine how that risk stacks up against mission priorities and acceptable risk, and then allocate time, personnel, and other resources to mitigate or control the risk. When you combine evaluating risk, balancing it with what the mission needs to accomplish, and actively applying resources to lower risk, you have a complete, practical approach to decision making under uncertainty.

Risk-based decision making means considering risk at each decision point, weighing that risk against mission requirements, and directing resources to reduce risk. In practice, you assess the likelihood and impact of hazards, determine how that risk stacks up against mission priorities and acceptable risk, and then allocate time, personnel, and other resources to mitigate or control the risk. When you combine evaluating risk, balancing it with what the mission needs to accomplish, and actively applying resources to lower risk, you have a complete, practical approach to decision making under uncertainty.