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An approach for reconciling different perspectives and stakeholder views on risk ranking.pdf
Journal of Cleaner Production 149 (2017) 1219e1232
Contents lists available at ScienceDirect
Journal of Cleaner Production
journal homepage: /locate/jclepro
An approach for reconciling different perspectives and stakeholder views on risk ranking
Floris Goerlandt a, b, *, Genserik Reniers b, c, d
a Aalto University, School of Engineering, Department of Mechanical Engineering, Marine Technology, Research Group on Maritime Risk and Safety, P.O. Box 14300, FI-00076 Aalto, Finland b KU Leuven, Campus Brussels, Faculty of Economics and Organizational Sciences, Center for Economics and Corporate Sustainability, Warmoesberg 26, 1000 Brussels, Belgium c UAntwerpen, City Campus, Faculty of Applied Economic Sciences, Prinsstraat 13, 2000 Antwerp, Belgium d TU Delft, Safety and Security Science Group, Faculty of Technology, Policy and Management, Jaffalaan 5, 2628 BX Delft, The Netherlands
article info
Article history: Received 24 June 2016 Received in revised form 19 January 2017 Accepted 17 February 2017 Available online 23 February 2017
Keywords: Risk ranking Expected value Uncertainty Moral considerations Foundational issues
abstract
Risk ranking is a widely used technique for selecting and prioritizing multiple risks facing an organization or decision maker. In industrial practice and in academic work, risk ranking methods are commonly based an implicit risk conceptualization, adopting a particular foundational perspective and accounting for selected factors. Nevertheless, different stakeholders may adhere to various risk conceptualizations, applying different foundational perspectives and accounting for different factors in the ranking process. Identifying a gap in the literature to coherently consider these different foundations, this paper presents an approach for reconciling different foundational perspectives and stakeholder views, accounting for uncertainties about these. The approach is presented based on three foundational perspectives (the expected value, uncertai
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