Risk management

Slovak term: Slovenský termín

1. Decision-making process involving considerations of political, social, economic, and technical factors with relevant risk assessment information relating to a hazard so as to develop, analyse, and compare regulatory and non-regulatory options and to select and implement appropriate regulatory response to that hazard. Risk management comprises three elements: risk evaluation; emission and exposure control; and risk monitoring (WHO 2004).
2. The process of evaluating alternative actions, selecting options and implementing them in response to risk assessments (Department of Health and Ageing and enHealth Council 2002).

Explanation

The decision making will incorporate scientific, technological, social, economic and political information. The process requires value judgements, e.g., on the tolerability and reasonableness of costs (Department of Health and Ageing and enHealth Council 2002).

Example

Within the context of water supply systems, risk management refers to the systemic evaluation of the water supply system, the identification of hazards and hazardous events, the assessment of risks, and the development and implementation of preventive strategies to manage risks (WHO 2006).

References

• Department of Health and Ageing and enHealth Council, Commonwealth of Australia.
• 2002. Environmental Health Risk Assessment. Guidelines for assessing human health risks
• from environmental hazards.
• WHO (2004) IPCS Risk Assessment Terminology
• WHO (2006) Guidelines for the safe use of wastewater, excreta and greywater

Links

• WHO — The Health and Environment Lexicon