Replying to LO28753 --
I suggest you have 'hit the nail on the head', when you mention
uncertainty. In several postings, I have mentioned risk management.
Risk is about uncertainty of outcomes in various situations. The outcomes
can involve loss or benefit, and 'good' management can reduce loss and
increase benefit. Australian Standard AS4360 - Risk Management when first
published about four years ago, was the first standard on the subject in
the world. It describes evaluation of risks by identifying hazards,
looking at 'what could happen' in terms of likelihood (probability), and
potential consequences (severity).
An example of this occurs when we evaluate the effect of workplace
hazardous substances by assessing exposure and considering the associated
epidemiology. The workplace is considered 'safe' when all risks are
minimised to a level, tolerable to all stakeholders. Sometimes
minimisation of hazards to accepted Threshold Limit Values is considered
to be evidence of this.
This approach requires a different mindset to the norm, however in
Australia prescriptive legislation is steadily being replaced by
performance based.
Ethical decisions are based on community and organisational values,
however handling uncertainties, has long been a 'bone of contention'.
Best Regards,
Alan Cotterell
--"Alan Cotterell" <acotrel@cnl.com.au>
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