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Risk Management


             Sandman (1993) has also proposed that it is the low correlation between risks that cause injury, and risks that have psychological outcomes. He has studied risk evaluation in depth and has also drawn the conclusion that some people seem to ignore probabilistic data concerning risks that seem to be negligible. Clearly there is a psychological and emotional aspect that influences individual response. Sandman also suggests that there are two perspectives in considering risk. .
             1. Product of occurrence and the consequence magnitude. By obtaining appropriate estimated or historical data we can calculate a vale for hazard.
             2. People view risk from an emotional perspective in terms of outrage.
             Risk is therefore considered a combination of both hazard and outrage. Sandman (1993) suggests that there are 12 areas that affect the quantity of outrage and therefore the individual's perception of risk. These are:.
             Voluntary Vs Coerced.
             Natural Vs Industrial.
             Familiar Vs Exotic.
             Not memorable Vs Memorable.
             Chronic Vs Catastrophic.
             Not dreaded Vs Dreaded.
             Knowable Vs Not knowable.
             Individually controlled Vs Socially controlled.
             Fair Vs Unfair.
             Morally irrelevant Vs Morally relevant.
             Trustworthy Vs Untrustworthy.
             Responsive Vs Unresponsive.
             Other important issues that affect outrage are the "innocent" members of the population as compared to the "normal" population. This is significant where children or disadvantaged groups are affected and is known as, effects of risk on vulnerable and future populations. Effects on victims and the capacity to control losses is another attributing factor where risks facing people are clearly identified and preventable, yet nothing appropriate is done. Ratio of benefit to risk is the concept that outrage is increased when people acknowledge a clear imbalance between the risk to be encountered and the benefit derived from taking the risk. And finally, effects of media attention that often feed outrage by ensuring continued public awareness.


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