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Risk Management and Risk Assessment

Risk management is described as a macro-level procedure of assessing, analyzing, prioritizing, and developing a strategy to mitigate threats. On the other hand, risk assessment is defined as a meso-level procedure within risk management. According to Withgott and Laposata (2018), risk assessment is a phrase used to describe the overall process or approach where an individual or organization identifies dangers and risk factors that can potentially cause harm. This paper discusses environmental risk management and risk assessment and explains how risk management combines science and other social elements. Ecological risk management often endeavors to discover the ecological risks and ascertain how to mitigate these risks in an approach suited to protect the environment and human health.

Under environmental science, risk management is described as evaluating how to protect public health. According to Withgott and Laposata (2018), the examples of risk management actions include assessing the amount of substance an organization releases into a water source, materials that can be deposited at a dangerous waste disposal facility, assessing how dangerous waste should be cleaned up, and setting permit standards for storage, discharge, and transport (Withgott & Laposata, 2018). Moreover, environmental risk management centers on developing public ambient air quality measures and managing permissible contamination levels in drinking water.

Risk assessment offers knowledge on possible environmental or health risks, and risk management is the activity implemented on mitigation. Risk assessments assist in identifying and categorizing risks and provide a framework for the possible outcome. Conducting risk management incorporates procedures and technologies that help in distinguishing, evaluate and report any risk-related issue. Withgott and Laposata (2018) indicate that environmental risk assessment is a significant aspect of the risk management process and is primarily centered on identifying and analyzing risk management. There are four aspects of a suitable risk assessment (Withgott & Laposata, 2018). These include identifying the possible cause of the harm, describing the impact it might cause, assessing the risk or occurrence and identifying precautions, recording the assessment results, and implementing precautions as risk management.

According to Withgott and Laposata (2018), scientific determinants present the risk assessment foundation, including knowledge collected from toxicology, epidemiology, environment, chemistry, and statistics. On the other hand, economic determinants familiarize the administrator with the costs of uncertainties and advantages of subduing them; the price is risk alleviation alternatives and distributional outcomes. Withgott and Laposata (2018) further indicate that social factors including revenue standard, ethnic qualifications, community levels, zoning, land management, and accessibility of healthcare, lifestyle, and psychological conditions of the afflicted people, may impact the sensitivity of a person or a perceptible society to risk from a significant stressor.

Moreover, Withgott and Laposata (2018) indicate that technological factors such as feasibility influence risk management alternatives. Political factors are founded on the Federal administration branches’ interaction with other State, Federal, and regional administration bodies, including international regulations. These can vary from agency policy and political administration practices through requests from Congress members, special interest associations, and concerned civilians.

Conclusively, environmental risk management involves implementing approaches that center on protecting human health and ecology. These actions often include developing policies and deciding specific areas where dangerous waste can be stored or discharged. On the other hand, risk assessment involves identifying the possible cause of the harm, its impact, and precautions.