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The Risk Ranking Technique in Decision Making

Product Details
18 May 1989
Emerald Group Publishing Limited
136 pages - 156 x 234 x 9mm


This book develops a comprehensive approach, known as the Ranking Technique, for the assessment of decision options. It aims to provide a way of presenting a decision maker with a consistent method of making a thorough assessment of all the factors associated with complex decisions. The Ranking Technique is based on a detailed analysis of all the issues involved and presents the results in a simple manner which should be understandable by the lay public not versed in the complexities of the issues involved. Ranking Technique is illustrated by application to four major decisions that have caused controversy and one fuel resource evaluation, although it is stressed that the Technique is applicable to all decision-making situations. The study describes how technical, economic and socio-political factors can be evaluated and their significance integrated to give a comprehensive assessment of the decision options.
Introduction. The problems of decision making. The relevance of decision analysis techniques currently available. The nature of the ranking technique. Evaluation of technical factors for ranking. Evaluation of economic factors for ranking. Evaluation of socio-political factors for ranking. Assessment of the potential efficacy of the ranking technique. The basis for alternatives to the ranking technique in the decision making process. Guidelines for the application of the ranking technique. Conclusions. Index.

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