| Welcome to Risk Management Reports (4111 words) |
 | In contrast to risk assessment, risk management is largely based on politics (response to perceptions) than on science (response to facts), and the conflicts and controversies surrounding risk often come from ignoring the fundamental distinction between facts and values. |
| Risk management significantly differs across industries and countries, mainly as a result of the different perceptions, attitudes and values towards specific risks in different social contexts which, in turn, determine also the scope and definition of the process steps in the preceding risk assessment phase, resulting in the mentioned differences in risk assessment methodologies. |
| The classical science-based approach to risk management, which focuses on the integrated numerical assessment of the two basic criteria probability of occurrence and extent of damage and comparison to some threshold values, is often received by the public with scepticism or ignorance. |
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