Risk Management 12
Risk Management 12 :
Public Risk management is a process that is used to decide what to do where a risk has been determined to exist. It involves identifying the level of tolerance the community has for a specific risk or set of risks and determines what risk assessment options are acceptable within a social, economic, cultural and political context. To achieve this, the process must be open since it has to factor in benefits, costs of control and any statutory or socially approved requirements needed to manage the risk. Hence, it requires communicating and consulting with the public-at-large, either directly or through appropriate representation as well as with specialists (Britton 1998, 1)
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