Cindynics, The Science of Danger

Appendix 1Current Risk Management and its Shortcomings

A1.1. The main principles of the current process

The principles and guidelines of risk management are established by the NF ISO 31000:2018 standard, and the practical aspects of risk assessment techniques are presented by the IEC/ISO 31010:2009 standard. It states that:

Risk analysis consists of determining the consequences and probabilities for identified risk events, taking into account the presence (or not) and the effectiveness of any existing controls. The consequences and probabilities are then combined to determine a level of risk.

This operating process, while it has brought real progress in the reduction of adverse events, unfortunately has some shortcomings in relation to current scientific advances. In the following, we will highlight five shortcomings in risk analysis and risk management which are still frequently encountered. These shortcomings allow us to provide explanatory elements to justify the limits, biases and solutions that can be used to compensate for them, thus showing the value of integrating the scientific advances of the second half of the 20th century and the beginning of the 21st century into traditional risk management approaches.

Indeed, since the beginning of the 20th century, the reality of the world has changed considerably thanks to two fundamental discoveries: quantum theory, which has brought to light the existence of invisible aspects of matter, and complexity. It should be added ...