Risk-Informed Decision Making
Risk-Informed Decision Making (RIDM) is a process that integrates risk assessment into decision-making. It helps organizations evaluate potential risks and benefits associated with different options, allowing them to make more informed choices. By considering both the likelihood and impact of risks, decision-makers can prioritize actions that enhance safety and efficiency.
This approach is commonly used in various fields, including engineering, healthcare, and environmental management. RIDM encourages transparency and collaboration among stakeholders, ensuring that diverse perspectives are considered. Ultimately, it aims to improve outcomes by balancing risk with opportunity in a structured manner.