Question

The principles of risk management are routinely applied in society (e.g. benefits of a drug vs. potential harmful adverse reactions in some patients). Risk management principles enable decision-makers to determine a balance between risk and cost to reduce that risk. The "safer" we engineer something, the more it costs. Using risk management, a "cutoff" point is decided upon, where further expenditures to further reduce risk are not "cost effective." Advances in instrumentation are allowing us to "discover" pollutants in treated wastewater that we couldn't detect previously due to their minute concentrations. The pollutants are introduced by human activity and many advocates they should, therefore, be removed, regardless of cost. The cost of removing minute traces of any pollutant is very high due to the low concentrations. The counter-argument is that the pollutants, previously un-measurable, have been in treated wastewater for generations and haven't caused harm.

Questions:

1. How should this be approached?

2. Does risk management have a role?

Answer 1

SOLUTION :---->>>>>

ANS. 1 - Previously when advanced technology instruments are not used for checking minute concentrated pollutants in wastewater then we engineers assumed that this treated wastewater is good and does not harm us. But now advancement in instrumentation is allowed for discover of pollutants in treated wastewater. As these harmful pollutants are in minute concentration but they are harmful for us. Due to their less concentration the cost of removal is very high, to overcome this problem first of all estimate that how much cost is needed for this. If cost is huge amount then this is not mandatory to remove of these particle 100% or we can do that supply this treated polluted ( with minute pollutant ) waste water where it is less harmful.

ANS. 2 - Yes, risk management have a crucial role in that case. Only one major risk we found that the cost of removal these minute pollutant is very high. In that case proper risk management is used by checking how advserse effect of these particles to environment, how to remove these particles in minimum cost, financial support without any conflicts.

If all these factors are done properly then risk us reduced to minimum.

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