The Post-COVID-19 Blueprint (Part 3.2): The Seven Key Steps of Risk Management

Risk management vs Precautionary Principle.

The latter stops us doing anything because of the pssobilities of things going wrong.

It would have stopped almost everything electricity, bicycles, planes, trains and solar panels

The Risk-Monger

Risk management is a process, not a decision. In any situation involving an exposure to hazards (risk), there are a series of steps that should be taken to manage the process. These steps are taken on the basis of information, trust and agency. The goal of risk management is to protect the vulnerable (those most exposed to risks) while ensuring that the benefits (why the risk is taken) are delivered.

Section Two of the third part of my Post-COVID-19 Blueprint for a stable risk management strategy looks at seven key steps in a basic risk management process. It seeks to establish a clear alternative to the precautionary principle which has guided risk policy for much of the last two decades and which has failed catastrophically (as seen in our incapacity to manage the recent coronavirus pandemic risk in most Western countries).

Risk taking is something we do intuitively. Every step…

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