Operational risk management: a new paradigm for decision making

Decision making and knowledge management in inquiring organizations: toward a new decision-making paradigm for DSS

Organizational decisions of the future may include social, environmental, and economic concerns, and be much more w Ž . x AwickedB Policy Sciences, 4 1973 155 , complex and interconnected than those of the past. Organizations and their decision support systems must embrace procedures that can deal with this complexity and go beyond the technical w Ž . Ž . orientation of previous DSS. Singerian ...

A novel risk-based decision-making paradigm

This paper presents a novel rodent decision-making task that explores uncertainty, independently of expectation and predictability. Using a 5-hole operating box, adult male Wistar rats were given choices between a small certain (safe) food reward and a large uncertain (risk) food reward. We found that animals strongly preferred the safe option when it had a fixed position or was cued with a lig...

A new paradigm in oil spill modeling for decision making?

Decision Making and Risk Management

Risk management comprises four discrete (but related) types of concern: “compensatory” and “prospective” anticipatory management, preparedness and disaster response activities. Preparedness and response strategies are still generally dominant concerns for disaster organizations. Anticipatory risk reduction is far from being generalized and has low social and political saliency. In the present p...

A fuzzy group decision making approach to construction project risk management

Implementation of the risk management concepts into construction practice may enhance the performance of project by taking appropriate response actions against identified risks. This research proposes a multi-criteria group decision making approach for the evaluation of different alternative response scenarios. To take into account the uncertainties inherent in evaluation process, fuzzy logic i...