Risk analysis

The purpose of risk analysis is to capture the dimension of risk in decision-making. Risks can often be quantified and when this is possible they can be weighed against the benefits likely to be experienced in pursuing the risky course. Harold Linstone refers to three dimensions that may be involved in analyzing risk: technological, with probability and uncertainty calculus; organizational, with analysis for political sensitivity, media coverage, etc.; and individual, in terms of experience, age, perception, etc.