Development of a Framework to Evaluate Human Risk Towards Sustainable Risk Management

Authors

Ra'ed M. Jaradat, Old Dominion University
Rani A. Kady
C. Ariel Pinto, Old Dominion UniversityFollow

Document Type

Conference Paper

Publication Date

2010

Publication Title

31st Annual National Conference of the American Society for Engineering Management 2010: (ASEM 2010) Fayetteville, AR, 13-16 October 2010

Pages

1-6

Conference Name

31st Annual National Conference of the American Society for Engineering Management

Abstract

Risk managers are constantly faced with the challenge of making decisions at various levels of their organizations. One of the challenges, which often times is unavoidable, lies in assigning a monetary value to human risks. Such challenge necessitates engineering managers to make educated decisions on the level of risk that the organizations and businesses should accept when it comes to human. The purpose of this study is to suggest a suitable framework that captures this aspect of engineering Risk Management in order to make rational and sustainable decisions about such assessed risk. This will be accomplished by exploring the tools, techniques, and methods implemented to evaluate the human risk in the decision making process by risk managers. The study attempts to address a fundamental question that risk managers strive to seek a clear and definite answer to the question "are the benefits gained from assigning a monetary value to human life worth taking the risks, efforts, costs required to achieve such benefits?.

Comments

© 2010. Reprinted with permission of the American Society for Engineering Management. International Annual Conference. All Rights Reserved.

Original Publication Citation

Jaradat, R. M., Kady, R. A., & Pinto, C. A. (2010). Development of a framework to evaluate human risk towards sustainable risk management. 31st Annual National Conference of the American Society for Engineering Management 2010: (ASEM 2010) Fayetteville, Arkansas, 13-16 October 2010 (pp. 1-6). American Society for Engineering Management

Repository Citation

Jaradat, Ra'ed M.; Kady, Rani A.; and Pinto, C. Ariel, "Development of a Framework to Evaluate Human Risk Towards Sustainable Risk Management" (2010). Engineering Management & Systems Engineering Faculty Publications. 110.
https://digitalcommons.odu.edu/emse_fac_pubs/110