Risk Governance Framework: Understanding and Managing Risks

This lecture explores the complexity, uncertainty, and ambiguity in identifying and quantifying risks, emphasizing the challenges in characterizing risk knowledge and dealing with uncertain scientific knowledge. It delves into risk evaluation, decision-making, and the importance of judging risk tolerability. Strategies for risk management, including risk reduction, resilience, and precaution, are discussed, along with stakeholder engagement and communication. The lecture also covers the significance of context in risk management and the involvement of various stakeholders in collectively deciding the best way forward.