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Recognize Risk Management Pitfalls.
- 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]
- Subjects :
- CLIMATE change models
NOBEL Prize in Economics
FLOOD risk
Subjects
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