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Recognize Risk Management Pitfalls.

Authors :
Gibson, John
Karney, Bryan
Source :
Journal: American Water Works Association; May2024, Vol. 116 Issue 4, p58-60, 3p
Publication Year :
2024

Abstract

This article discusses the pitfalls of risk management and how they can affect water professionals. It highlights the importance of accurately identifying and assessing risks, as well as the impact of risk aversion on the process. The article also explores cognitive biases that can hinder accurate risk assessment, such as the availability heuristic and the anchoring heuristic. It emphasizes the need for data-driven decision-making and careful reasoning to mitigate these biases. [Extracted from the article]

Details

Language :
English
ISSN :
0003150X
Volume :
116
Issue :
4
Database :
Supplemental Index
Journal :
Journal: American Water Works Association
Publication Type :
Academic Journal
Accession number :
176607927
Full Text :
https://doi.org/10.1002/awwa.2266