A New Approach to Risk: The Implications of E3

The fundamental thesis of this paper is that no matter how much physical science and technology are involved in complex systems, no system is ever purely or solely physical or technical. Certainly no system of which we are aware is purely scientific or technical in its operation or management. Furth...

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Bibliographic Details
Published in:Risk management (Leicestershire, England) England), 2009-02, Vol.11 (1), p.30-43
Main Authors: Bea, Robert, Mitroff, Lan, Farber, Daniel, Foster, Howard, Roberts, Karlene H.
Format: Article
Language:English
Subjects:
Administrative law
Civil engineering
Complex societies
Complex systems
Decision making
Design
Design engineering
Economics and Finance
Engineering
Environmental engineering
Failure
Finance
Floods
Geographic information systems
Hurricanes
Information systems
Infrastructure
Interdisciplinary aspects
Mechanical engineering
Modeling
Organization theory
Original Article
Psychology
Risk analysis
Risk assessment
Risk Management
System failures
Variables
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Summary:The fundamental thesis of this paper is that no matter how much physical science and technology are involved in complex systems, no system is ever purely or solely physical or technical. Certainly no system of which we are aware is purely scientific or technical in its operation or management. Furthermore, while research on and the modeling of complex systems usually rely heavily on the consideration of technological variables and processes, they typically fail to consider the contributions of individual psychological, organizational and contextual factors. This paper argues that we need models that avoid committing errors of the third kind, solving the wrong problem precisely. The paper sets out a mechanism for developing models that include contextual as well as technological variables.
ISSN:1460-3799
1743-4637
DOI:10.1057/rm.2008.12